Paceline Investors acquired an office asset at 350 East Plumeria Drive in San Jose, CA, for $33 million. The property has a total area of 142,700 square feet and is a mixed-use facility that includes office, lab, and warehouse space. The transaction highlights ongoing investor interest in repositioning underutilized office properties in the region.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $33,000,000
• Buyer: Paceline Investors
• Seller: Workspace Property Trust
• Market: San Jose, CA
• Brokers: Sherman Chan, Chris Shepherd & Garrett Taylor - CBRE

Workspace Property Trust previously acquired the property in 2022 for nearly $38 million, indicating a strategic approach to managing assets amid evolving leasing conditions in the Bay Area. The brokers involved in this transaction, Sherman Chan, Chris Shepherd, and Garrett Taylor, represent CBRE in this deal.