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5/17/16
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TMG Partners has sold a 95.6k sf building at Champion Station in San Jose to China-based GEIRNA. The building, located at 250 West Tasman Dr, south of Hwy 237 and west of I-880, is estimated to have sold for around $37.5 mil.
Champion Station is located at a major light rail stop, steps from retail on North First St, and approximately one half mile from Levi’s Stadium. TMG initially purchased the eight-building, 810k sf campus from Cisco Systems in 2013. Immediately thereafter, TMG embarked on a major renovation of the building exteriors, interiors and common area amenities, as well as establishing a master signage and branding program. TMG subsequently sold four buildings to an investor in 2014 and the remainder of the project is occupied by ForeScout Technologies and Silver Spring Networks.
“San Jose is seeing particularly strong interest from both local and global companies,” said David Cropper, TMG Partners Director of Development. “The mixed-use nature of the North San Jose market has become increasingly compelling to today’s technology tenants, and we’re pleased our renovations have further supported attracting substantial companies to the area where their employees can bike, ride the train, charge their electric cars, live across the street and walk down the street to restaurants or events at Levi’s Stadium.”
The buyer was represented by Kidder Mathews’ Skip Whitney and Eric Bluestein. The seller was repped by Colliers’ Craig Fordyce and Mike Rosendin, and JLL’s Scott Mathisen.
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