CBRE Global Investors Acquires Two Class A San Jose Office Buildings

A fund sponsored by CBRE Global Investors acquired two Class A office buildings in San Jose, reportedly for nearly $173.54 million. The buildings, collectively known as 237@First, each span six stories and include a total of 368,702 rentable square feet, which is nearly 65% leased.

237@First is LEED Gold Certified and includes 4353 N. First St, which was completed in 2016 and includes 181,042 square feet, and 4453 N. First St., which was completed in 2019 and includes 187,660 square feet. The assets were developed by South Bay Development Co. and PCCP.

CBRE Global Investors’ Gary Jaye says, “237@First is located within the North San Jose office submarket, which we believe is well-positioned to weather an economic downturn. The specific location of 237@First, situated just off I-237, also affords many tenant employees a desirable reverse commute, with quick access the area’s major roadways.

Eastdil Secured brokered the transaction along with NKF’s Chris Shaffer, who provided local market expertise.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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