{"id":1004200487,"date":"2017-12-13T11:07:24","date_gmt":"2017-12-13T19:07:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004200487"},"modified":"2022-12-09T02:39:29","modified_gmt":"2022-12-09T10:39:29","slug":"san-jose-office-portfolio-changes-hands-for-128m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/san-jose-office-portfolio-changes-hands-for-128m\/","title":{"rendered":"San Jose Office Portfolio Changes Hands for $128M"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<div id=\"attachment_1004200488\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/51729241.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004200488\" data-attachment-id=\"1004200488\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/san-jose-office-portfolio-changes-hands-for-128m\/attachment\/51729241\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/51729241.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;10&quot;,&quot;credit&quot;:&quot;Hawkeye Photography (408) 260-08&quot;,&quot;camera&quot;:&quot;NIKON D800&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1494684936&quot;,&quot;copyright&quot;:&quot;Copyright 2015    Santa Clara, CA USA&quot;,&quot;focal_length&quot;:&quot;45&quot;,&quot;iso&quot;:&quot;400&quot;,&quot;shutter_speed&quot;:&quot;0.0008&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Towers @ 2nd, San Jose\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Towers @ 2nd, San Jose&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/51729241.jpg?w=800\" class=\"wp-image-1004200488 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/51729241.jpg\" alt=\"Towers @ 2nd, San Jose\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/51729241.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/51729241.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/51729241.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004200488\" class=\"wp-caption-text\">Towers @ 2nd, San Jose<\/p><\/div>\n<p>Brookfield has acquired Towers @ 2<sup>nd<\/sup>, two office buildings totaling 411,544 square feet in San Jose, for $128 million. The company purchased the assets\u00a0from Harvest Properties and Invesco Real Estate. The sale of Towers @ 2<sup>nd<\/sup> marks Harvest\u2019s and Invesco\u2019s sixth deal together. Harvest will continue to manage the asset and Cushman &amp; Wakefield will be the leasing manager.<\/p>\n<p>The office towers are situated in the heart of downtown San Jose at 75 E. Santa Clara St. and 4. N. Second St., adjacent to a Valley Transportation Authority light rail stop on Second Street. The 13- and 14-story assets were built in 1973 and feature 14,500 and 17,500-square-foot floorplates that suite a variety of tenants. The buyer plans to invest an additional $32 million to reposition the asset and upgrade the interiors and communal areas.<\/p>\n<p><em>\u201cOur vision for this property and successful repositioning to attract growing, technology-related tenants and capitalize on the notable upswing in the downtown San Jose office market allowed us to both deliver on our original investment plan and, ultimately, offer the new owners a high-quality asset in a dynamic, improving market,\u201d\u00a0 <\/em>said Awais Mughal, partner at Harvest Properties, in prepared remarks.\u00a0<\/p>\n<p>Russell Ingrum, Joe Moriarty, Scott J. Prosser and Tyler Meyerdirk\u00a0of CBRE represented Harvest and Invesco in the transaction. One of the joint venture&#8217;s deals also included the acquisition of a <a href=\"https:\/\/www.commercialsearch.com\/news\/cim-group-buys-sf-office-asset-for-hefty-price-tag\/\">San Francisco office building<\/a>\u00a0in January for $123 million.<\/p>\n<p><em>Image courtesy of Harvest Properties\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The portfolio includes two office towers totaling 411,544 square feet in downtown San Jose. A joint venture between Harvest Properties and Invesco sold the assets. <\/p>\n","protected":false},"author":871,"featured_media":1004200488,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,21747,36079,15],"tags":[33497,32789,32799,32824,33882],"class_list":["post-1004200487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-office","category-san-jose","category-west","tag-brookfield-properties","tag-cbre","tag-cushman-wakefield","tag-harvest-properties","tag-invesco-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>San Jose Office Portfolio Changes Hands for $128M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/san-jose-office-portfolio-changes-hands-for-128m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Jose Office Portfolio Changes Hands for $128M\" \/>\n<meta property=\"og:description\" content=\"The portfolio includes two office towers totaling 411,544 square feet in downtown San Jose. A joint venture between Harvest Properties and Invesco sold the assets.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/san-jose-office-portfolio-changes-hands-for-128m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-12-13T19:07:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:39:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/51729241.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelyn Jozsa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-jose-office-portfolio-changes-hands-for-128m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/san-jose-office-portfolio-changes-hands-for-128m\/\",\"name\":\"San Jose Office Portfolio Changes Hands for $128M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-jose-office-portfolio-changes-hands-for-128m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-jose-office-portfolio-changes-hands-for-128m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/51729241.jpg\",\"datePublished\":\"2017-12-13T19:07:24+00:00\",\"dateModified\":\"2022-12-09T10:39:29+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7a1fad8f1e02fa4d8f81f7e9ad21736a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-jose-office-portfolio-changes-hands-for-128m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/san-jose-office-portfolio-changes-hands-for-128m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-jose-office-portfolio-changes-hands-for-128m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/51729241.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/51729241.jpg\",\"width\":800,\"height\":620,\"caption\":\"Towers @ 2nd, San Jose\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-jose-office-portfolio-changes-hands-for-128m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"San Jose Office Portfolio Changes Hands for $128M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7a1fad8f1e02fa4d8f81f7e9ad21736a\",\"name\":\"Evelyn Jozsa\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Evelyn-Jozsa-1.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Evelyn-Jozsa-1.jpg?w=96\",\"caption\":\"Evelyn Jozsa\"},\"description\":\"Evelyn is a creative writer covering commercial real estate trends and insights in the U.S. Evelyn was previously a senior associate editor at Multi-Housing News and Commercial Property Executive. 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