300 Holger Way is Final Asset Sold in District 237 Office Park

KBS recently sold 300 Holger Way, a 99,552-square-foot class-A office building in San Jose. Holger Way was purchased by an affiliate of Menlo Equities for $35 million. 300 Holger Way was owned by KBS Real Estate Investment II.

The property was the final asset KBS sold in the eight-building District 237 office park it acquired in 2013.

District 237, formerly known as Corporate Technology Centre, is located in an active area that is highly popular with office users, according to Gio Cordoves, Western regional president for KBS.

“District 237 presents a premier value-add opportunity to capture tenant demand in the Silicon Valley market,” says Cordoves. “The location offers close proximity to several world-leading technology firms, such as Google, which continues to expand its development footprint in San Jose. This is just one example of the demand for office space in this market.”

The property is located near the @First Marketplace retail development, providing a robust amenity base for tenants, according to Brent Carroll, asset manager for District 237 and senior vice president of KBS. The retail development contains numerous restaurants, retail establishments and hotels suited for traveling office users.

“300 Holger Way’s advantageous location is well positioned to attract a wide range of technology-based users,” says Carroll. “The area is home to the nation’s largest cluster of technology firms, and it benefits from this exuberant entrepreneurial spirit.”