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9/26/18
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Hangzhou Overseas Center Inc, a technology and business service company backed by the city of Hangzhou, China, has purchased a two-story office building in San Jose. The property, located at 160 East Tasman Dr, west of I-880 and south of Hwy 237, was sold by LBA Realty.
The 112.2k sf, Class B building was built 1990. It is in the North San Jose neighborhood, close to Levi Stadium and along the light rail line.
Kidder Mathews commercial real estate brokers, Rico Cheung, Eric Bluestein, Jimmy Cacho, and Kyle Hipple, represented the buyer in the transaction. The buyer intends to use the building to run a comprehensive service platform named Q Bay Center.
Hangzhou is the capital and most populous city of Zhejiang Province in China. Q Bay Center will act as a window to promote the city of Hangzhou and to give companies in the region a greater global reach. As an American company, the goal of the center is to nurture international startups into successful American companies and provide guidance on following United States regulations and laws.
According to Q Bay Center’s CEO, Chenpeng Yao, the platform will include an R&D service center for technology companies and biotech lab space for some startups based in the Bay Area. Their vision is to foster research and collaboration between Hangzhou and Silicon Valley.
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