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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.
Sales and leasing activity in the South Bay have accelerated in the months following Google’s announced San Jose campus. Several large transactions have been completed in the last few months.
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.
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