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Seven-Building San Jose Office Park Trades for $164M
A seven-building office campus located in North San Jose and known as Rio Tech Office Park recently sold for $164.3 million, reported the Silicon Valley Business Journal. The seller was an affiliate of Washington Holdings, a Seattle-based firm that acquires, develops and manages real estate in the western U.S. The buyer was an affiliate of BGO, a global real estate investment management advisor, real estate lender and real estate services provider.
The site, containing 375,000 square feet, is made up of one- and two-story office and research-and-development buildings. The campus has multiple tenants, including Honda Research Institute, F5 Networks and Frore Systems. Rio Tech Office Park is in a commercial area along the Guadalupe River.
Washington Holdings, which paid $170 million for the site in 2021, has a substantial presence in Silicon Valley, the Business Journal reported. Its 2.5-million-square-foot footprint spans R&D properties, retail and other assets.
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- ◦Sale/Acquisition
