Peninsula Land & Capital Acquires Office Property In Campbell For $24.6M With Newmark As The Broker

Peninsula Land & Capital acquired an office property located at 2105 South Bascom Avenue in Campbell, CA. The transaction involved a three-story asset with a total square footage of 124,724, situated on 4.2 acres. The sale price was $24.6 million, reflecting a price per square foot of $197 and a price per acre of $5,857,143.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $24,600,000
• Square Footage: 124,724
• Address: 2105 South Bascom Avenue
• Market: Campbell, CA
• Acres: 4.2
• Price per Square Foot: $197
• Price per Acre: $5,857,143
• Buyer: Peninsula Land & Capital
• Seller: Undisclosed
• Brokers: Steven Golubchik, Edmund Najera, Darren Hollak & Brendan Raney - Newmark

The asset was 56 percent leased to 25 tenants at the time of the sale. Renovations were completed in 2021, totaling nearly $6 million in capital improvements. Newmark acted as the representative for the seller during this transaction.