The property asset involved in this transaction is an office building located at 3553 North 1st Street in San Jose. The building encompasses 89,400 square feet and is positioned within the San Jose market. This transaction signifies a notable shift for the asset, which had previously been sold at a loss of $12.8 million by the Santa Clara County Housing Authority following a failed ownership attempt.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not specified
• Address: 3553 North 1st Street
• Market: San Jose
• Landlord: Hugh Hilton - Alvarez & Marsal Capital Real Estate
• Tenant: Charles "CJ" Prober - Netgear
• Brokers: Joe Kelly & Jon Mackey - Newmark

Netgear has secured the lease for 89,400 square feet at the listed address, with plans to relocate its headquarters to this location in October 2025. The lease agreement reflects the involvement of Joe Kelly and Jon Mackey from Newmark, who facilitated the transaction on behalf of the parties. This move by Netgear represents a significant change in occupancy for the property.