KBS Trades Zoom’s Global HQ in Largest Multi-Tenant San Jose Office Sale Since Pandemic

KBS has closed the sale of The Almaden, a three-building, 416,126-square-foot Class A office campus at 55 Almaden Blvd. in downtown San Jose, anchored by Zoom’s global headquarters. The Almaden was owned by KBS Real Estate Investment Trust III, Inc., which paid $150 million in 2015. SFF Realty Partners has acquired the property for an undisclosed sum.

The sale is the largest multi-tenant office trade in San Jose since the pandemic, according to KBS. Newmark’s Steven Golubchik, Edmund Najera and Darren Hollak represented KBS.

Tim Helgeson, SVP and investment manager for The Almaden at KBS, said the sale reflects proactive asset management and significant investment in the property. “The campus benefited from more than $49 million in capital improvements during our ownership, helping maintain the property’s competitive position in the market,” said Helgeson. “These efforts helped position the property for a successful transition to new ownership.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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