Boston Properties to sell Silicon Valley office complex for $207m
Boston Properties is under contract to sell an office complex in San Jose for $207 million to Irvine, Calif.–based chipmaker Broadcom Corp.
The six-building complex, Innovation Place, totals 574,000 square feet and has the potential to have more than 1 million square feet of office space. Currently, Boston Properties is developing 536,949 square feet in two additional buildings.
San Jose is increasingly an attractive option for companies to expand and for real estate investors to put their capital. Apple purchased the 101 Tech Center, an office property located at 2325 Orchard Parkway, for approximately $165.8 millionfrom Ellis Partners.
In a portfolio acquisition, the $184.5 billion New York State Common Retirement Fund