SAN JOSE — A tech campus in San Jose has been bought at a big price cut compared with its prior value in a sign that the Bay Area office market remains wobbly at the same time it presents opportunities for savvy investors.
The office hub, located at 375 West Trimble Road, has been bought for $63.6 million, according to documents filed on Dec. 31 with the Santa Clara County Recorder’s Office.
Tech campus at 375 West Trimble Road in north San Jose, shown within the outline. Boundaries are approximate. (Google Maps)
A buying group that includes DivcoWest, a veteran Bay Area real estate firm, bought the four-building property at the corner of West Trimble and Orchard Parkway, the county public records show.
A real estate unit of MetLife Investment Management sold the property, which is at a prominent corner in San Jose.
North San Jose has become a hotbed for real estate deals in recent months.
On Dec. 19, Cisco Systems sold four north San Jose office buildings and two parking garages for $63 million to South Bay Development. The buildings have addresses of 260, 300, and 350 East Tasman Drive and 3750 Zanker Road.
In October 2025, a big chunk of land and buildings next to a site where Microsoft is eyeing possible data centers in north San Jose was bought for $200 million by a unit of Australia-based development titan Goodman Group.
In the most recent deal on New Year’s Eve, the DivcoWest-led affiliate bought the campus on West Trimble Road in an all-cash deal that represented a hefty discount compared with the previous deal for the site.
The office buildings at the just-bought campus total 251,400 square feet, according to the PropertyShark commercial listings website.
In 2015, the MetLife unit bought the campus for $95.9 million. That means DivcoWest purchased the property for 33.7% less than the price a decade ago. The latest price is also 44.8% below the property’s current assessed value of $115.3 million.
If real estate values turn soft in a region, the decline could impede a crucial property tax revenue stream for cities, counties, regional agencies and school districts.
CBRE commercial real estate brokers Rob Shannon, Christian Marent, and Vincent Scott are scouting for tenants to lease space in the campus. A marketing brochure states that about 46,000 square feet are available for lease.
The tech campus was originally built in 1982 and was extensively renovated in 2014. The interiors and exteriors are all modern, according to the CBRE brochure. Amenities include outdoor retreats with features such as a fire pit, seating and dining areas, a kitchen and barbecue, and a shaded arbor.
Yet despite these efforts to modernize the campus, the property has become one of many Bay Area sites that a sour Bay Area office market has jolted.
Weak rental rates and sky-high vacancy levels have coalesced to undermine values of office buildings throughout the Bay Area. The weakness has also unleashed a wave of loan defaults and foreclosures, along with bargain-basement prices.