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6/24/21
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Berkeley Partners purchased a 54k sf R&D facility in San Jose for $24.5 mil, or $454/sf. The property was sold by Goble Properties and Cojourn Companies.
Located at 2121 and 2125 Zanker Rd, the property was originally built in 1977 and was recently renovated. The project was fully leased at the time of sale to two public companies.
Charlie Strouss, Jonathan Ziegler, Yvonne Hsiung and Vincent Scott of CBRE represented the seller in the transaction. Jim Korinek and Shaun Moothart of CBRE’s Debt & Structured Finance team arranged the acquisition financing on behalf of the San Francisco-based buyer.
“The asset is located in the North San Jose R&D submarket which, with more than 23 msf, is one of the largest and most established in Silicon Valley,” said Strouss. “The immediate area will soon benefit from improved traffic flow and access from US 101 resulting from the long-planned Charcot Overpass.”
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