Miltenyi Biotec Acquires Office Building In North San Jose For $34.1M

A 51,800 sq ft office and research building located at 2825 North First Street in North San Jose was purchased by German biotech firm Miltenyi Biotec for $34.1 million in an all-cash transaction. The seller of the property was Miramar Capital. The sale price of $34.1 million translates to a price per square foot of $658. This transaction highlights the value stability of Silicon Valley properties, particularly in the life sciences sector, despite any challenges in the broader market.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $34,100,000
• Square Footage: 51,800
• Price per Square Foot: $658
• Address: 2825 North First Street
• Market: North San Jose

Miltenyi Biotec, a German biotech firm, represented by Toon Overstijns, acquired the office and research building from Miramar Capital, with Paul Fuhrman representing the seller. This transaction demonstrates the continued interest in Silicon Valley properties, particularly in the life sciences sector, despite any challenges present in the broader market.