KBS has sold a 96,502-square-foot building at District 237, an eight-building, 415,492-square-foot, class A office/R&D complex in San Jose, Calif.
The building at 350 Holger Way, owned by KBS Real Estate Investment Trust II, was sold to Thor Equities for $50.5 million.
District 237, formerly known as Corporate Technology Center, is located in the North San Jose submarket of the Silicon Valley, an area of Northern California that is highly popular among office users, according to Giovanni (Gio) Cordoves, western regional president for KBS.
“North San Jose is one of the key growth markets in the United States,” said Cordoves. “This is due to its adjacency to several Silicon Valley cities with tight vacancy such as Palo Alto and Mountain View. Tech tenants in particular are drawn to North San Jose for its great value in comparison to these higher-priced markets. It’s easy to see why investors value District 237 so highly, even in the mi
