California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Brookfield Buying San Jose Complex for $128M
Toronto-based Brookfield Asset Management is buying Towers @ 2nd, a two-building, 411,000-square-foot office complex in San Jose, CA for a reported $128 million. The assets were picked up by Brookfield Strategic Real Estate Partners II fund, a commingled fund.
Located at 75 E. Santa Clara St. and 4 N. Second St. in downtown San Jose, the properties were sold by Invesco and Harvest, which had acquired them in 2015 for $62.2 million and subsequently invested another $11.1 million in improvements. Since then, occupancy at Towers @ 2nd has climbed from just 50% to roughly 62%.
Key leases include WeWork, which took 73,000 square feet last year, and the San Jose Mercury News, which signed on for 33,000 square feet of HQ space.
CBRE represented the sellers in the transaction.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


