{"id":1004567104,"date":"2022-02-14T06:48:17","date_gmt":"2022-02-14T14:48:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004567104"},"modified":"2022-12-08T12:47:29","modified_gmt":"2022-12-08T20:47:29","slug":"synaptics-sells-58m-san-jose-office-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/synaptics-sells-58m-san-jose-office-campus\/","title":{"rendered":"Synaptics Sells $58M San Jose Office Campus"},"content":{"rendered":"<div id=\"attachment_1004567105\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/1150-Ringwood-Court-e1644582363387.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004567105\" data-attachment-id=\"1004567105\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/synaptics-sells-58m-san-jose-office-campus\/1150-ringwood-court\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/1150-Ringwood-Court-e1644582363387.jpg\" data-orig-size=\"800,640\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1150 Ringwood Court\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1150 Ringwood Court&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/1150-Ringwood-Court-e1644582363387.jpg?w=800\" class=\"wp-image-1004567105 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/1150-Ringwood-Court-e1644582363387.jpg?w=300\" alt=\"\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/1150-Ringwood-Court-e1644582363387.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/1150-Ringwood-Court-e1644582363387.jpg?resize=300,240 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/1150-Ringwood-Court-e1644582363387.jpg?resize=768,614 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004567105\" class=\"wp-caption-text\">1150 Ringwood Court<\/p><\/div>\n<p>An affiliate of<strong> South Bay Development<\/strong> has acquired a 231,700-square-foot office campus in San Jose, Calif., for $58 million, <em>The Mercury News<\/em> reported. <strong>Wells Fargo Bank<\/strong> provided a $46.1 million loan to the buyer, according to the same news outlet.<strong> Synaptics<\/strong> was the seller.<\/p>\n<p>The deal also allows Synaptics to continue to occupy space at the recently sold property, with its headquarters located at 1251 McKay Drive. Overall, the company signed a 12-year agreement for a total of 115,000 square feet, with an option to extend the term of the lease.<\/p>\n<p>The campus includes a property at 1150 Ringwood Court, which Synaptics acquired in 2014 for roughly $10 million, and a building at 1109 McKay Drive, for which the company paid $12.1 million in 2012, according to CommercialEdge data. Both buildings were originally built in 1984. SPT Microtechnologies is another tenant at 1150 Ringwood Court.<\/p>\n<p>The four-building campus, located at 1109, 1151 and 1251 McKay Drive and 1140 and 1150 Ringwood Court, is near interstates 880 and 680 and some 6 miles northeast of downtown San Jose.&nbsp;<\/p>\n<p>Last December, AGC Equity Partners, a UK-based asset management firm, closed the <a href=\"https:\/\/www.commercialsearch.com\/news\/agc-closes-largest-bay-area-office-sale\/\">largest office sale in San Jose.<\/a> The company paid $780 million for an under-construction three-building office development within Hunter Properties and Sansome Partners\u2019 Coleman Highline project. Once completed, the 658,000-square-foot development will serve as Verizon&#8217;s Media Division office in the region and will house 3,500 employees.&nbsp;<\/p>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wells Fargo Bank provided a $46 million loan to the buyer. <\/p>\n","protected":false},"author":3142,"featured_media":1004567105,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747,1609,15],"tags":[33215],"class_list":["post-1004567104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office","category-san-francisco","category-west","tag-wells-fargo-bank"],"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>Synaptics Sells $58M San Jose Office Campus - 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