San Jose Office Portfolio Changes Hands for $128M
ByBrookfield has acquired Towers @ 2nd, two office buildings totaling 411,544 square feet in San Jose, for $128 million. The company purchased the assets from Harvest Properties and Invesco Real Estate. The sale of Towers @ 2nd marks Harvest’s and Invesco’s sixth deal together. Harvest will continue to manage the asset and Cushman & Wakefield will be the leasing manager.
The office towers are situated in the heart of downtown San Jose at 75 E. Santa Clara St. and 4. N. Second St., adjacent to a Valley Transportation Authority light rail stop on Second Street. The 13- and 14-story assets were built in 1973 and feature 14,500 and 17,500-square-foot floorplates that suite a variety of tenants. The buyer plans to invest an additional $32 million to reposition the asset and upgrade the interiors and communal areas…
