Lane Partners Buys Brocade Campus In San Jose For $226M
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Brocade Communications Systems sold its three-building headquarters and parking garage in San Jose for about $226M. Lane Partners affiliates bought the properties totaling 541K SF in four transactions, The Mercury News reports.
Parlex 6 Finco provided Lane Partners with $197M to fund the Brocade deal. The offices at 130 Holger Way sold for $78M, the building at 120 Holger Way sold for $75M, the office at 110 Holger Way sold for $42.5M and the parking garage sold for $30M.
Brocade previously merged with Broadcom and planned layoffs. In January, 308 Brocade employees will be laid off as part of cost-cutting. Brocade also previously sold its data center networking business for $55M.