KBS closes sale of Zoom's San Jose HQ campus to SFF Realty Partners
Connect CRE calls the 416,126-square-foot Almaden campus the largest multi-tenant San Jose office sale since the pandemic.
At a glance
Connect CRE called it the largest multi-tenant San Jose office sale since the pandemic.
KBS Real Estate Investment Trust III owned the property and paid $150 million for it in 2015, per Connect CRE.
KBS has closed the sale of The Almaden to SFF Realty Partners, Connect CRE reported on Oct. 8. The three-building, 416,126-square-foot Class A office campus at 55 Almaden Blvd. in downtown San Jose is anchored by Zoom's global headquarters.
Connect CRE called it the largest multi-tenant San Jose office sale since the pandemic.
KBS Real Estate Investment Trust III owned the property and paid $150 million for it in 2015, per Connect CRE. The 2015 purchase price works out to roughly $360 per square foot across the 416,126-square-foot campus.
Office owners have mostly chosen capex and extensions over price discovery this year, as this publication has reported. A closed sale with a named buyer puts a fresh comparable into a market that has produced few of them.
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