A subsidiary of KBS Real Estate Investment Trust II, Inc. has acquired the Corporate Technology Centre, an office campus consisting of eight office buildings totaling 610,083 rentable square feet on 32.7 acres of land in San Jose, CA, for $239 million
Located at 110 Headquarters Drive & 200-475 Holger Way in San Jose, the Corporate Technology Centre is 100 percent leased to five tenants.
The seller, Equity Office, was represented in the transaction by CBRE’s Northern California Institutional Group led by Joe Moriarty, Executive Vice President; Russell Ingrum, Vice Chairman/Managing Director; Sean Sullivan, Executive Vice President; and Tyler Meyerdirk, Vice President; coupled with Debt Finance expert Brad Zampa, Executive Vice President and Market Leasing experts Mark Schmidt, Executive Vice President and Bob Steinbock, Senior Vice President.
The eight buildings range from 20,009 to 101,194 square feet and have an average floor-plate of nearly 31,500 square feet.
KBS funded the purchase of Corporate Technology Centre in part with proceeds from a $140 million mortgage loan that matures April 1, 2020 and has an interest rate of 3.50 percent. Monthly payments are interest-only through May 1, 2017, when monthly payments will include principal and interest.