Ignite FB Tracking Pixel$429 million mega deal: Famed Japanese developer buys big north San Jose office campus leased to Micron Technology - Joe N. Pollifrone
$429 million mega deal: Famed Japanese developer buys big north San Jose office campus leased to Micron Technology

by Joe N. Pollifrone 03/13/2019

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Office complex in north San Jose is bought for $429 million by a Japanese investor, showing strength of Silicon Valley market

SAN JOSE — A famed developer from Japan has bought a big tech campus in north San Jose in a head-spinning Silicon Valley mega-deal valued at $429 million.

Mori Trust, a Japan-based developer and real estate investor known for constructing the iconic Roppongi Hills mixed-use complex in central Tokyo, is the new owner of the San Jose tech campus, according to several sources with knowledge of the transaction.

The campus, which is fully leased to Micron Technology, was bought on March 11 for $429 million in cash, Santa Clara County property records show. The deal is believed to be Silicon Valley’s largest property purchase so far in 2019.

The deal also underscores the growing strength of the north San Jose market, which has begun to attract a steady stream of tech company leases and property purchases, as well as an influx of dollars from realty investors.

https://www.mercurynews.com/2019/03/12/429-million-mega-deal-big-north-san-jose-office-campus-micron-technology-bought-google-apple-facebook-amazon/

 

photo credit; George Avalos / Bay Area News Group BANG

About the Author

Author
Joe N. Pollifrone

For over 34 years, Joe Pollifrone has practiced real estate full-time as a licensed Real Estate Broker in California. Joe’s vast sales experience includes duplexes, tri-plexes, four-plexes, apartment buildings, land, condominiums, townhomes, fixer-uppers, estate properties, and bank-owned properties (REOs). He also is active in selling non-owner occupied properties and is well-versed in 1031 tax-deferred exchanges, property management, tenant/landlord issues, and local laws. During Joe’s career to date, he has sold in excess of $200,000,000 of real estate, including over $32,000,000 in REOs. 

Joe brought his deep experience to Sereno Group Willow Glen as a Broker Associate in 2012. He was the Sales Manager and led a top-producing office. Joe would mentor new Sereno hires, making sure that they’re comfortable with the ethos of the office, plugged into Sereno’s network of contacts, and well-versed in the technology required of today’s real estate professionals. 

Joe prides himself on his proven ability to negotiate, extensive knowledge of contracts, and securing close of escrows in a timely manner. Both he and his clients credit his success to effective communication skills, honesty, and hard work. Joe is a native of San Jose and resides in Willow Glen with his wife of twenty-seven years, Kimi, his daughters Milan and Micaela and their two Goldendoodles, Tony-Luca and Marco.