Karol tells GlobeSt.com that although he can’t comment on the price of the asset, from a market perspective, “you are already seeing a significant improvement in the area.” He points out that “everyone expects that momentum to continue”

Karol adds that assets like Central Park Plaza that have performed well historically, should continue to improve and “are well positioned to continue capturing tenant demand.”

The Central Park Plaza campus includes six, two-story multi-tenant class-A office buildings totaling 300,954 rentable square feet in the north San Jose submarket of Silicon Valley. The buildings range in size from 43,082 square feet to 56,714 square feet. Built in 1985, Central Park Plaza underwent renovations in 1996 and further improvements in 2008, when the previous owner undertook $2.5 million in upgrades.

Central Park Plaza offers tenants a campus-like setting, abundant nearby amenities and abundant parking. Its proximity to light rail and BART make it a desirable location for companies whose employees live outside of San Jose. According to Winther, Harvest Properties’ plans include making aesthetic upgrades and rebranding the property, “allowing Harvest to capitalize on market rents that are expected to improve substantially over the next several years.” Central Park Plaza is currently nearly three-quarters leased.

With the acquisition of Central Park Plaza, Harvest this month has added 430,000 square feet to its commercial property portfolio. In mid-June, Harvest bought 115 Sansome St., a historic office building in San Francisco’s northern financial district.