{"id":383664,"date":"2026-07-02T14:57:10","date_gmt":"2026-07-02T14:57:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/383664\/"},"modified":"2026-07-02T14:57:10","modified_gmt":"2026-07-02T14:57:10","slug":"san-jose-office-property-is-bought-for-far-less-than-its-prior-value-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/383664\/","title":{"rendered":"San Jose office property is bought for far less than its prior value"},"content":{"rendered":"<p>SAN JOSE \u2014 An office hub in San Jose has been bought at a steep discount to its prior value in a sign that prices for office buildings continue to wobble in the Bay Area.<\/p>\n<p>A Bay Area real estate firm has paid $25 million for the office site, which has addresses of 2001 and 2005 Gateway Place, according to documents filed on July 1 in Santa Clara County.<\/p>\n<p>Peninsula Land &amp; Capital, acting through an affiliate, is the new owner of the office property, a grant deed at the County Recorder\u2019s Office shows.<\/p>\n<p>Palo Alto-based Peninsula Land bought the property from Hudson Pacific, which also is a Bay Area real estate company.<\/p>\n<p>In May of this year, Peninsula Land pulled off the purchase of a <a href=\"https:\/\/www.mercurynews.com\/2026\/05\/10\/office-economy-campbell-property-build-tech-real-estate-south-bay-ai-web\/\" target=\"_blank\" rel=\"noopener nofollow\">Campbell office building for $24.6 million<\/a>, part of the company\u2019s effort to scout for commercial property sites at attractive prices.<\/p>\n<p>\u201cThis acquisition reinforces our commitment to investing in premier Silicon Valley real estate,\u201d Roger Fields, founder and chief executive officer of Peninsula Land &amp; Capital, stated in a post on the X social media platform, which was formerly Twitter.<\/p>\n<p>The 2001 Gateway office complex totals 152,300 square feet, according to commercial property databases. It is part of a larger Gateway Place campus that totals 609,000 square feet. The remainder of the campus wasn\u2019t part of the recent deal.<\/p>\n<p>The price that Peninsula Land paid for the 2001 Gateway Place office site was 45.2% below the property\u2019s assessed value of $45.6 million as of January 2026. Assessed values are only one metric that can be used to evaluate a property\u2019s worth.<\/p>\n<p>\u201cThis strategic acquisition aligns perfectly with our ongoing focus on high-quality office and research and development properties in core Bay Area markets,\u201d Peninsula Land stated in the X post.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" lazyautosizes lazyload\" alt=\"Office complex at 2001 Gateway Place in north San Jose, bird's-eye view.(Google Maps)\" width=\"930\" data- src=\"https:\/\/www.newsbeep.com\/us-ca\/wp-content\/uploads\/2026\/07\/1783004230_202_SJM-L-SJNOFFICEBUY-02.jpg\" \/>Office complex at 2001 Gateway Place in north San Jose, bird&#8217;s-eye view.\u00a0(Google Maps)<\/p>\n","protected":false},"excerpt":{"rendered":"SAN JOSE \u2014 An office hub in San Jose has been bought at a steep discount to its&hellip;\n","protected":false},"author":2,"featured_media":383526,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[184,387,7,3010,1335,383,181,100,14293,3012,388,88,90,89,198,200,1970],"class_list":["post-383664","post","type-post","status-publish","format-standard","has-post-thumbnail","category-san-jose","tag-bay-area","tag-business","tag-california","tag-commercial-real-estate","tag-development","tag-economy","tag-latest-headlines","tag-news","tag-north-san-jose","tag-office-buildings","tag-real-estate","tag-san-jose","tag-san-jose-headlines","tag-san-jose-news","tag-santa-clara-county","tag-south-bay","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/383664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=383664"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/383664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/383526"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=383664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=383664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=383664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}