KBS Real Estate Investment Trust II has announced the third sale at Corporate Technology Centre, an eight-building office park. Three properties — the AT&T building at 400 Holger, 450 Holger and 475 Holger — have been sold.
KBS is focused on renovating the remaining five buildings, which it intends to rebrand as District | 237.
The five class A buildings, which will soon be vacant, have more than 400,000 square feet of rentable space. District | 237 presents an opportunity to create a campus environment for one large tenant with 416,000 square feet, or multiple tenants with their own individual building, ranging in size from 46,700 square feet to 100,000 square feet.
Planned renovations for District | 237 include a 60-foot-high monument sign, allowing for tenants to have prominent signage facing the highway, completely updated landscaping and modified exteriors. Currently 350 Holger Way is undergoing a complete interior renovation that will include, a new lobby, a private tenant lounge, an outdoor amenity area and gym. The office component of the building has been opened up to create large open work spaces, collaboration areas and an executive conference center.
“The dynamic Silicon Valley market is a draw for many employers due to its appeal to a young talent pool,” said Brent Carroll, SVP, acquisitions/co-director, asset management. “We believe the planned renovations of the property puts KBS at the center of an ever-growing market with the potential to add great value to the well-located property.”
District | 237 is within 10 minutes of San Jose’s Minetta International Airport and 15 minutes of the San Jose CBD.
“We believe San Jose remains a popular place for growing technology businesses, and tenants will benefit by the identity the freeway frontage offers,” said Rodney Richerson, regional president of KBS.
