Newmark arranged the sale of 1010 Rincon Cir., a 90,871-square-foot R&D facility in San Jose, for an undisclosed sum. The property is 100% leased to Quanta Cloud Technology (QCT) for its U.S. headquarters.

Executive vice chairman and president, western region capital markets Steven Golubchik, vice chairman Edmund Najera, senior managing director Jonathan Schaefler and managing director Darren Hollak represented the seller, Machine Investment Group, in the sale to funds managed by Blue Owl Capital.

“1010 Rincon offers a prime opportunity for a durable cash flow stream, secured for 10 years by a leading AI server company within this state-of-the-art R&D facility,” said Golubchik. “The San Francisco Bay Area, renowned for its technological innovation, has seen a surge in demand for AI-driven facilities. This trend underscores the region’s role as a hub for cutting-edge advancements and positions properties like 1010 Rincon at the forefront of commercial real estate opportunities.”

A leading partner of Nvidia, Google Cloud, Sony and Amazon Webservices, QCT specializes in the design, engineering and manufacturing of server, storage and networking products.