TMG, KKR Acquire San Jose’s Skyport Plaza from Hudson Pacific

TMG Partners has acquired Skyport Plaza, a 435,000-square-foot office and retail complex located at 1650 Technology Dr., 1700 Technology Dr., 50 Skyport Dr. and 90 Skyport Dr. in San Jose. TMG Partners acquired the asset together with accounts managed by KKR. The seller was Hudson Pacific Properties, which announced a $75.5-million sale price.

In conjunction with the acquisition, TMG signed a long-term, 393,000-square-foot lease with the County of Santa Clara. The 30-year lease is expected to commence in the first quarter of 2029, following extensive renovations to the two office buildings, formerly occupied by Qualcomm and now 100% vacant. The retail is fully occupied.

“We’re pleased to support the County of Santa Clara in their consolidation at Skyport Plaza which will provide a more efficient and modern experience for their employees,” said TMG co-CEO Ben Kochalski. “We look forward to working with them on the property improvements to modernize the infrastructure for their staff, as well as provide a location where they can conveniently access services and restaurants.”

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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 19-plus years’ experience covering the commercial real estate industry and 35-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 11-15 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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