SAN JOSE, CA—Shorenstein Properties LLC has closed on its purchase of the first phase of Champion Station, a four-building, low-rise office and R&D campus at 110-180 West Tasman Dr. in North San Jose. Terms of the purchase, which was concluded with TMG Partners, were not disclosed.
The four buildings, totaling 426,000 square feet, are currently fully leased to Champion Station on a short-term basis. “This is an opportunity to reposition a well-located campus in a market with strong leasing demand and a dearth of available blocks of office space to accommodate large users,” says Douglas W. Shorenstein, CEO and chairman, Shorenstein Properties LLC.
Mike Seifer, managing director of JLL, who represented the seller, tells GlobeSt.com that “There was broad investor interest in this opportunity and tenant activity in the immediate area continues to escalate. This really demonstrates the continued improvement, maturation and importance of the north San Jose submarket and how this market has been transformed by the entertainment (Levi Stadium), retail and housing development that has occurred in the neighborhood.”
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