{"id":1004524646,"date":"2021-04-28T05:22:56","date_gmt":"2021-04-28T13:22:56","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004524646"},"modified":"2021-05-15T10:29:12","modified_gmt":"2021-05-15T18:29:12","slug":"silicon-valley-office-building-trades-for-15m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/silicon-valley-office-building-trades-for-15m\/","title":{"rendered":"Silicon Valley Office Building Trades for $15M"},"content":{"rendered":"
\"\"<\/a>

2 N. First St.<\/p><\/div>\n

A 43,400-square-foot office building in downtown San Jose, Calif., traded for $14.6 million, according to public records.<\/p>\n

CommercialEdge data lists the previous owner as California-based company Leisure Sports. The asset last traded in 2018 for $15.5 million. Additionally, the asset was subject to a $12 million loan from Fremont Bank, set to mature at the end of the year. The Mercury News<\/em> identified the buyer as a group of private investors led by Florian Barth.<\/p>\n

Located at 2 N. First St., the six-story building is a few blocks from San Jose State University, 1 mile north of Interstate 280 and close to a future BART Silicon Valley Phase II station. Completed in 1948, the property houses Founders Floor, VTA and A3Cube.<\/p>\n

With the market going into a recovery phase, Silicon Valley was no stranger to office deals lately, some of them with hefty price tags. Earlier in April, Tishman Speyer spent $365 million for NetApp\u2019s headquarters campus<\/a> in Sunnyvale. The seller will relocate later in the year to a hybrid work-oriented office. And just a few days earlier, Brookfield shelled out $630 million<\/a> for a Mountain View campus leased to WeWork and occupied by Facebook as part of an enterprise lease.<\/p>\n","protected":false},"excerpt":{"rendered":"

The downtown San Jose asset last changed hands three years ago.<\/p>\n","protected":false},"author":748,"featured_media":1004527989,"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":[51112],"class_list":["post-1004524646","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-san-jose-state-university"],"acf":[],"yoast_head":"\nSilicon Valley Office Building Trades for $15M - 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\/silicon-valley-office-building-trades-for-15m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silicon Valley Office Building Trades for $15M\" \/>\n<meta property=\"og:description\" content=\"The downtown San Jose asset last changed hands three years ago.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/silicon-valley-office-building-trades-for-15m\/\" \/>\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=\"2021-04-28T13:22:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T18:29:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/2-N.-1st-St-e1619611575878.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lucia Morosanu\" \/>\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\/silicon-valley-office-building-trades-for-15m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/silicon-valley-office-building-trades-for-15m\/\",\"name\":\"Silicon Valley Office Building Trades for $15M - 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