PSAI Realty Partners Acquires San Jose Tech Center
- Jul 25, 2018
PSAI Realty Partners has acquired Gold Street Technology Center, a 302,600-square-foot office/research and development campus in San Jose, Calif., from Embarcadero Capital Partners. NKF Capital Markets arranged the deal on behalf of the seller. According to Yardi Matrix data, the portfolio traded for $91.5 million in an all-cash transaction.
The property consists of five separate, two-story steel-frame buildings. Located at 2100, 2130, 2150, 2160 and 2190 Gold St., the center boast green belts, fountains, courtyards, volleyball and basketball courts.
Constructed in 1999, Gold Street Technology Center is situated on 18.7 acres along the 237 Corridor and is anchored by the global headquarters of TiVo Corp. The property is close to numerous executive and workforce housing options and provides high visibility and signage from a strong location on Highway 237. At the time of the sale, the campus was 88 percent leased.
“This property is highly attractive as it is well positioned along the 237 Corridor, which already features one of the largest concentrations of high-profile corporate users and well-known and respected technology firms such as Samsung, Cisco and Dell, among others,” Steven Golubchik, NKF Capital Markets vice chairman, said in a prepared statement.
Joining Golubchik on the deal were NKF Vice Chairman Grant Lammersen and Executive Managing Director Edmund Najera.
Also in July, NKF Capital Markets arranged the sale of the Hilton Washington North Gaithersburg hotel, located in Gaithersburg, Md. Earlier this year, NKF Capital Markets arranged a $26.6 million acquisition loan for Hilton Melbourne Rialto Place, a 268-key, eight-story hotel in Melbourne, Fla.
Image courtesy of Newmark Knight Frank