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July 17, 2018
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Ocean West Capital Partners and Hana Asset Management Co LTD Buy Four-Building Office Project in San Jose

6/14/18

An investment venture led by Ocean West Capital Partners and Hana Asset Management Co LTD purchased North First Commons, a four-building, 250k sf, Class A office campus in San Jose. The project, located at 2515, 2525, 2535, and 2545 N First St, is 100% leased to eBay.

NKF Capital Markets Vice Chairman Steve Golubchik, Executive Managing Director Edmund Najera, Directors Tim Walling and David Hosler, facilitated the sale. NKF Capital Markets Vice Chairman Ramsey Daya and Executive Managing Director David Milestone assisted the buyer in acquiring financing to purchase the project. The transaction price was not immediately given out.

North San Jose has experienced a tremendous amount of leasing momentum as major tech companies continue to expand in the surrounding area. Recently, Google, Apple, Samsung, and Microsoft, have each purchased more than 1 msf in the area to expand their presence and operations in North San Jose. With rumors of additional leasing activity, North San Jose could experience more than 2.5 msf of absorption in 2018, according to NKF.




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