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Refreshed San Jose Building Sells to Hines

After a quick ownership period, TMG Partners and Alcion Ventures have sold 2851 Junction Ave in North San Jose to Hines Global REIT. We're still tracking the price. The sellers scooped up the 155k SF Class-A office in 2012 for an undisclosed amount, and in typical TMG fashion, gave it a big redo. Now it's fully occupied by a single tenant for its North American HQ (we've learned it's TSMC). Located in the Montague Park area, the office building was built in 2002 and was occupied by the County of Santa Clara for years. Improvements include a new lobby, common areas, restrooms and outdoor eating areas, as well as upgraded sustainable landscaping and electric vehicle charging stations. The sellers were repped by JLL.