{"id":3566,"date":"2026-07-02T12:10:19","date_gmt":"2026-07-02T12:10:19","guid":{"rendered":"https:\/\/nextcitydigest.com\/?p=3566"},"modified":"2026-07-02T12:10:19","modified_gmt":"2026-07-02T12:10:19","slug":"san-jose-office-property-is-bought-for-far-less-than-its-prior-value","status":"publish","type":"post","link":"https:\/\/nextcitydigest.com\/?p=3566","title":{"rendered":"San Jose office property is bought for far less than its prior value"},"content":{"rendered":"
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SAN JOSE \u2014 An office hub in San Jose has been bought at a steep discount to its prior value in a sign that prices for office buildings continue to wobble in the Bay Area.<\/p>\n

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A Bay Area real estate firm has paid $25 million for the office site, which has addresses of 2001 and 2005 Gateway Place, according to documents filed on July 1 in Santa Clara County.<\/p>\n

Peninsula Land & Capital, acting through an affiliate, is the new owner of the office property, a grant deed at the County Recorder\u2019s Office shows.<\/p>\n

Palo Alto-based Peninsula Land bought the property from Hudson Pacific, which also is a Bay Area real estate company.<\/p>\n

In May of this year, Peninsula Land pulled off the purchase of a Campbell office building for $24.6 million, part of the company\u2019s effort to scout for commercial property sites at attractive prices.<\/p>\n

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\u201cThis acquisition reinforces our commitment to investing in premier Silicon Valley real estate,\u201d Roger Fields, founder and chief executive officer of Peninsula Land & Capital, stated in a post on the X social media platform, which was formerly Twitter.<\/p>\n

The 2001 Gateway office complex totals 152,300 square feet, according to commercial property databases. It is part of a larger Gateway Place campus that totals 609,000 square feet. The remainder of the campus wasn\u2019t part of the recent deal.<\/p>\n

The price that Peninsula Land paid for the 2001 Gateway Place office site was 45.2% below the property\u2019s assessed value of $45.6 million as of January 2026. Assessed values are only one metric that can be used to evaluate a property\u2019s worth.<\/p>\n

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\u201cThis strategic acquisition aligns perfectly with our ongoing focus on high-quality office and research and development properties in core Bay Area markets,\u201d Peninsula Land stated in the X post.<\/p>\n

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An office hub in San Jose has been bought at a steep discount to its prior value in a sign that prices for office buildings continue to wobble in the Bay Area.<\/p>\n","protected":false},"author":1,"featured_media":3565,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-3566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\nSan Jose office property is bought for far less than its prior value - Next City Digest<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nextcitydigest.com\/?p=3566\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Jose office property is bought for far less than its prior value - 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