SAN JOSE, CA—Shorenstein Properties LLC hasclosed on its purchase of the first phase of ChampionStation, a four-building, low-rise office and R&Dcampus at 110-180 West Tasman Dr. in North San Jose. Terms of thepurchase, which was concluded with TMG Partners,were not disclosed.
The four buildings, totaling 426,000 square feet, are currentlyfully leased to Champion Station on a short-termbasis. “This is an opportunity to reposition a well-located campusin a market with strong leasing demand and a dearth of availableblocks of office space to accommodate large users,” saysDouglas W. Shorenstein, CEO and chairman,Shorenstein Properties LLC.
Mike Seifer, managing director ofJLL, who represented the seller, tells GlobeSt.comthat “There was broad investor interest in this opportunity andtenant activity in the immediate area continues to escalate. This really demonstrates the continued improvement, maturation andimportance of the north San Jose submarket and how this market hasbeen transformed by the entertainment (Levi Stadium), retail andhousing development that has occurred in the neighborhood.”
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