Sonny Kalsi Of BGO Acquires 377,000 SF Office Campus In San Jose For $164.3M

The property involved in this transaction is an office asset located at 3545 North 1st Street in San Jose, encompassing 377,000 square feet. The transaction was completed for a sale price of $164,300,000, translating to a price per square foot of approximately $436. The asset is recognized for its seven-building configuration and generates around $100,000,000 in annual contractual rent.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $164,300,000
• Buyer: Sonny Kalsi - BGO
• Seller: Ric Anderson - Washington Holdings
• Market: San Jose
• Square Footage: 377,000
• Price per Square Foot: $436

Sonny Kalsi, representing BGO, acquired the property from Ric Anderson, representing Washington Holdings. The transaction reflects a 3.3% discount to the seller’s 2021 purchase price, while still exceeding broader market pricing for R&D properties in Silicon Valley. The acquisition underscores the asset's stable income profile and credit tenancy amidst a softening tech real estate market.