Friday, September 17, 2021

South Bay’s shopping spree expands with North San Jose campus deal

SAN JOSE — A large tech complex in northern San Jose has been grabbed by a real estate firm with nationwide reach, a deal that sparks a buying spree by investors who have yet to quench their thirst for Silicon Valley properties. .

Grosvenor America has purchased a three-building office complex at the corner of Orchard Parkway and East Trimble Road, paying $108.5 million for the property, documents filed with the Santa Clara County Recorder’s Office show on Aug.

“We have strong confidence in the long-term growth trajectory of the northern San Jose submarket,” said Angela Biggs, Grosvenor America’s vice president of investments.

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According to property records, Grosvenor America purchased the premises in a full cash deal.

The complex totals 218,600 square feet and is leased entirely to Toshiba America Electronic Components, which is the US data storage and semiconductor unit of consumer electronics giant Toshiba, according to Grosvenor.

The campus was completely renovated in recent years and includes its offices as well as research space.

“Orchard-Trimble solidifies our portfolio as a well-positioned asset on a growth path that fits our strategy of identifying opportunities for the long term,” Biggs said.

Orchard Parkway at 2610 North San Jose, an office building that is part of a three-building complex at the corner of Orchard Parkway and West Trimble Road. Grosvenor America Grosvenor America

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South Bay's shopping spree expands with North San Jose campus deal
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