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CBRE has secured $26.2M in financing for Vista Investment Group to acquire a six-building, 162k SF office portfolio in North San Jose.
Brad Zampa, Michael Walker and Megan Woodring of CBRE’s San Francisco office say they arranged the loan from a US-based bank with an extensive track record in Silicon Valley.
The CBRE Capital Markets’ Debt & Structured Finance team says the surging real estate demand in the heart of Silicon Valley’s Golden Triangle is driven by tech firms. “Tenant demand for space in North San Jose is expected to continue, along with rising rental rates and falling vacancy levels,” Brad says.
While startups have traditionally been associated with the area, North San Jose has seen interest from large corporations seeking a foothold in the hotbed of talent. The rise in employment has dramatically increased the demand for housing.
