Skip to content
Learn How KBS is Creating Safe Work Environments
kbs logo
  • Investors
    • KBS Capital Markets Group
  • Properties
  • News & Insights
  • About Us
  • Contact

    Our Offices

    Corporate Headquarters

    800 Newport Center Drive, Suite 700
    Newport Beach, CA 92660

    (949) 417-6500

    info@kbs.com

    Washington DC Office

    3003 Washington Boulevard, Suite 950
    Arlington, VA 22201

    (202) 822-1230

    Facebook-f Twitter Linkedin-in Instagram
    Corporate Headquarters
    800 Newport Center Dr., Suite 700 Newport Beach, CA 92660
    info@kbs.com
    (949) 417-6500
    New York Office
    590 Madison Avenue, 26th Floor New York, NY 10022
    (212) 644-6662
    Washington, DC Office
    3003 Washington Boulevard, Suite 950, Arlington, VA 22201
    (202) 822-1230
    Contact Us
    KBS is an SEC-registered full-service investment adviser adept in various property and product types.
Learn How KBS is Creating Safe Work Environments
kbs logo
ArtboardCreated with Sketch.
Press Releases

KBS Sells a 99,552 Square-Foot Building, at an Eight Building Class A Office Complex in San Jose, California for $35M

  • November 30, 2021
Press Releases

KBS Sells a 99,552 Square-Foot Building, at an Eight Building Class A Office Complex in San Jose, California for $35M

  • November 30, 2021
Property is the final asset KBS has sold in the office park since the firm acquired the complex in 2013.

SAN JOSE, California (November 29, 2021) – KBS, one of the largest investors in premier commercial real estate, has sold 300 Holger Way, a 99,552 square-foot, Class A office building in San Jose, California, a submarket of Silicon Valley. The property, the final asset KBS has sold in the eight-building District 237 office park the firm acquired in 2013, was purchased by an affiliate of Menlo Equities for $35 million. 300 Holger Way was owned by KBS Real Estate Investment II.

District 237, formerly known as Corporate Technology Centre, is located in a particularly active area within Northern California that is highly popular with office users, according to Gio Cordoves, Western regional president for KBS.

“District 237 presents a premier value-add opportunity to capture tenant demand in the Silicon Valley market,” says Cordoves. “The location offers close proximity to several world-leading technology firms, such as Google, which continues to expand its development footprint in San Jose. This is just one example of the demand for office space in this market.”

Silicon Valley’s Class A office market is rebounding and could prove to be one of the strongest performing markets in the country. The current monthly office rental rate is the highest on record for Silicon Valley. Also, an increase in rental rates during the third quarter for all product types, including office, research, and industrial spaces, has led to a surge of new construction throughout the Silicon Valley market. According to CBRE’s Silicon Valley office market report for the third quarter, 1.5 million square feet of office space was delivered to this market, 1.1 million square feet of which was preleased. Talent retention and recruitment is one of the main reasons companies continue to seek Class A office buildings in the area, notes Cordoves.

The property is conveniently situated near the @First Marketplace retail development, providing a robust amenity base for tenants, according to Brent Carroll, asset manager for District 237 and senior vice president of KBS. The retail development contains numerous restaurants, retail establishments and hotels ideal for traveling office users.

“300 Holger Way’s advantageous location is well positioned to attract a wide range of technology-based users,” says Carroll. “The area is home to the nation’s largest cluster of technology firms, and it benefits from this exuberant entrepreneurial spirit.”

A three-story steel-frame building that was constructed in 2000 and fully renovated in 2019, 300 Holger Way sits on a 4.86-acre parcel and benefits from the continued influx of venture capital dollars invested in the Silicon Valley. The building features extensive glass lines and efficient floor plates. Amenities include nearby transportation, shopping, entertainment, and dining options. 

KBS has invested more than $3 million in renovations to the property that included completely new interiors, upgraded exteriors, landscaping, a new outdoor amenity area, an upgraded parking lot and a new HVAC system.

Joseph Moriarty, Scott Prosser, Jack Depuy, Brad Zampa and Mike Walker from CBRE represented KBS in the sale of 300 Holger Way.

“This transaction represented a rare chance to acquire a fully renovated Class A office building in the premier Northern San Jose submarket,” says Moriarty, Executive Vice President for CBRE.

The buyer recognized the opportunity to acquire one of San Jose’s most desirable office buildings, which has been revitalized due to KBS’ world-class management of this asset, according to Michael Johnston of Menlo Equities.

“We were very pleased to work with KBS in the disposition of 300 Holger Way during the revitalization of the Silicon Valley office market,” said Fischer, Greenberg Traurig’s Chair of the West Coast Real Estate Practice and Co-Managing Shareholder of the Orange County Office, who led the Greenberg Traurig team representing KBS.

The property is located at 300 Holger Way in San Jose, California.

Please click here for photos of 300 Holger Way at District 237.

Media Contact

Lexi Astfalk or Jenn Quader

Brower Group
949-438-6262
KBS@brower-group.com

Ginny Walker

KBS Public Relations Director
949-417-6535
gwalker@kbs.com

More Articles

Industry Trends

Underwriting the Perceived Instability of Short-Term Office Leases

  • February 16, 2021
The threat of shorter office lease terms has been looming over the commercial real estate industry for several years. Companies first braced for the potential impact of new standards from the International Accounting Standards Board (IASB) recognizing all leases on the balance sheet, which took effect in January 2019. Then, the office leasing world was hit with additional challenges from COVID-19 as many companies opted to work from home and re-evaluated the role of their physical office space.
Industry Trends Insights

Envisioning the Future of the Built Environment

  • January 29, 2021
Amidst the ongoing crisis, built environments are at the front lines of change and will play a huge role in creating a more resilient world going forward. Office architects are re-envisioning the future of the workplace—where and how we work. Unfortunately, there is no crystal ball to predict exactly what the new future-oriented office will look like, but what we do know is flexibility and adaptability will be key in resilient design.
Industry Trends

Why Texas is becoming a commercial real estate powerhouse

  • January 21, 2021
It looks like 2021 will be another big year for Texas, a year when a lot of major companies will make the jump and move to the Lone Star state. Just look at these transitions:
See All
Our Company
  • Investors
  • Properties
  • News & Insights
  • About KBS
Resources
  • Premier Office Magazine
Get in Touch
Facebook-f Twitter Linkedin-in Instagram
  • Careers

© 2023 KBS

  • Terms & Conditions
  • Privacy Policy
  • Home
Investors
  • KBS Capital Markets Group
  • Properties
  • News & Insights
  • About Us
Contact Us
  • Corporate Headquarters
  • New York Office
  • Washington, DC Office