Sam Loughlin Of Paceline Investors Acquires Office Building In San Jose For $12.2M

Paceline Investors acquired an office/R&D building at 2581 Junction Avenue in North San Jose for $12.2 million. The property consists of 92,900 square feet and is located in the San Jose market. The price per square foot for this transaction is approximately $131. The asset was fully leased and occupied by Ensurge Micropower. This deal reflects a significant discount from its previous purchase price of $32 million in 2018 by an affiliate of Nautilus Global Commercial Real Estate, amid ongoing weakness in the Bay Area office market.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $12,200,000
• Square Footage: 92,900
• Address: 2581 Junction Avenue
• Market: San Jose
• Buyer: Sam Loughlin - Paceline Investors
• Seller: Nautilus Global Commercial Real Estate
• Price per Square Foot: $131

Sam Loughlin represented Paceline Investors in this transaction. Nautilus Global Commercial Real Estate was the selling party. The property was noted for its full occupancy by Ensurge Micropower, indicating sustained demand from AI and data center users, even amidst a challenging office market in the area.