Cushman & Wakefield's Northern California Capital Markets group consisting of Eric Fox, Steve Hermann, Adam Lasoff, Seth Siegel and Ryan Venezia represented the seller. Erik Hallgrimson of the firm's San Jose office along with Craig Fordyce of Colliers International provided local market advisory.

“At the time of sale, the building was 100% leased to a single tenant having just under a year of term remaining, although they have signed a lease at another property in order to accommodate expansion,” says Fox. “The near-term lease expiration provides the buyer with a rare value-add opportunity to reposition the asset along with the benefit of having some secure in-place cash flow.”

Fox noted that the area provides a strong infrastructure and “is geared for growth”. 2125 O'Nel is situated on 5.21 acres and comprises part of the Bayshore Centre, a two-building complex located within the North First Street corridor in Silicon Valley's Golden Triangle.

The property's centralized location provides access to major highways and freeways, Mineta San Jose International Airport and a VTA light rail station. There are also multiple high-density residential developments and retail amenities near the property.

“The property's functionality, centralized Silicon Valley location and visibility from Highway 101 are among its most desired traits,” Fox tells GlobeSt.com. “The site is proximate to major roadways and public transportation—locations with freeway proximity and visibility are in high demand as tenants seek out opportunities to promote their brand and attract employees. The city of San Jose as a whole has become more desired as a landing spot for some of the region's largest technology companies.”