SAN JOSE – Two large buildings in an office complex in northern San Jose were bought by Florida investors who said they wanted to take over the sites despite worries caused by the coronavirus.
Miami-based Exan Group has purchased the two buildings in North San Jose from KBS, a real estate investment and development company.
Together the buildings have a total area of 144,000 square meters. The offices that have just been sold are at 200 Holger Way and 100 Headquarters Drive.
“KBS consistently identifies assets that are exceptionally well located in markets where value can be high,” said Rodney Richerson, KBS Regional President, Western Region. “North San Jose, with its proximity to densely populated Silicon Valley cities like Palo Alto and Mountain View, is one of those markets.”
Mirabaud RE District 237, the Exan Group subsidiary, paid on Jan.
District 237 is located off State Route 237 between North First Street and Zanker Road.
“The Highway 237 corridor is benefiting from positive new developments and has proven to be the primary junction for companies attracting workers from both sides of the San Francisco Bay,” said Brent Carroll, KBS senior vice president.
The 200-Holger building is three-story and has a total area of 97,000 square meters, while the 100 headquarters building is 47,000 square meters and has two floors.
“District 237 is fulfilling our current mandate to acquire core assets with loan tenants in the best submarkets in the USA,” said Juan Zaragoza, founder and managing partner of the Exan Group.
The purchase marks the Exan Group’s first property acquisition in the Bay Area and West Coast, according to the list of markets posted on the Exan website. Exan is longing for more real estate.
“Our plan is to continue building our portfolio in the coming quarters with assets similar to those in District 237,” said Zaragoza.