{"id":539,"date":"2026-05-26T14:40:25","date_gmt":"2026-05-26T14:40:25","guid":{"rendered":"https:\/\/nextcitydigest.com\/?p=539"},"modified":"2026-05-26T14:40:25","modified_gmt":"2026-05-26T14:40:25","slug":"two-south-bay-office-buildings-are-bought-for-more-than-300-million","status":"publish","type":"post","link":"https:\/\/nextcitydigest.com\/?p=539","title":{"rendered":"Two South Bay office buildings are bought for more than $300 million"},"content":{"rendered":"
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SANTA CLARA \u2014 Two South Bay office buildings have been bought for more than $300 million in what appears to be the largest office purchase deal in Silicon Valley so far this year and one of the Bay Area\u2019s largest in 2026.<\/p>\n

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The Great America Commons office hub next to California\u2019s Great America amusement park has been bought for $310 million, documents filed on May 22 with the Santa Clara County Recorder\u2019s Office show.<\/p>\n

A group whose principal leaders include Bay Area real estate firm Ellis Partners and Boston-based hedge fund Baupost Group bought the office hub, which is on Great America Parkway in Santa Clara, according to state and county records.<\/p>\n

In a hopeful sign for the South Bay office market, the purchase price was 42.4% higher than the assessed value for the two buildings of $217.7 million as estimated in January 2025.<\/p>\n

The increase in the office hub\u2019s value suggests the property may achieve a higher assessed valuation in the future.<\/p>\n

This has implications for local government agencies and the services they provide. Property taxes produce a crucial revenue stream for cities, counties, regional agencies, and school districts.<\/p>\n

The two office buildings include the headquarters of the San Francisco 49ers football team, along with large office sites leased by Texas Instruments, Fujitsu Research of America, NeoLife International, Ampere Computing, and MicroFocus.<\/p>\n

The transaction represents the largest dollar amount for an office property in Santa Clara County so far in 2026.<\/p>\n

Read more Saratoga, Los Gatos view potential policing partnership as a win-win<\/a><\/p>\n

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In the Bay Area overall, the deal appears to be the second-largest this year by dollar amount, topped by the $691 million purchase of the Transamerica Pyramid in San Francisco in March.<\/p>\n

The just-bought office hub in Santa Clara has addresses of 4555 and 4655 Great America Parkway and is located between Patrick Henry Drive and Old Glory Lane. Both office buildings are six stories.<\/p>\n

The office complex totals 637,100 square feet, according to a marketing brochure circulated by Cushman & Wakefield, a commercial real estate firm that has been seeking tenants for the buildings.<\/p>\n

The 4555 Great America Parkway building totals 321,800 square feet, while the 4655 Great America building totals 315,300 square feet, the brochure states.<\/p>\n

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In August 2025, Ellis Partners and Baupost teamed up to pay $210 million for a three-building office complex with addresses of 3315, 3325, and 3355 Scott Blvd. in Santa Clara.<\/p>\n

These deals have occurred at a time when the South Bay leasing market has staged a rebound in activity, as of the January-through-March first quarter of 2026.<\/p>\n

Read more Tax to bail out struggling Bay Area transit agencies appears headed to voters<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Two South Bay office buildings have been bought for more than $300 million in what appears to be the largest office purchase deal in Silicon Valley so far this year and one of the Bay Area’s largest in 2026.<\/p>\n","protected":false},"author":1,"featured_media":538,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\nTwo South Bay office buildings are bought for more than $300 million - 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=539\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Two South Bay office buildings are bought for more than $300 million - 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