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KBS Realty Unloads 3220 North First in San Jose

SPI Holdings Buys 85,000-SF Office/R&D Bldg. Home to NextEV
February 9, 2018
Newport Beach, CA-based KBS Realty Advisors has sold the 85,017-square-foot office and research and development building at 3200 N. 1st St. in San Jose to San Francisco-based real estate investment and development company, SPI Holdings. Terms of the deal were not disclosed.

KBS paid $25 million back in 2005 to acquire the property when it was home to Japanese network infrastructure/telecommunications company, Allied Telesis.

Yesterday, the company disclosed it had handed off the property to SPI Holdings fully leased to NextEV, a Chinese electric car maker.

3200 N. 1st was completed in 1997 on a 3.88-acre site in Silicon Valley within four miles of Mineta San Jose International Airport. The complex features 10-foot ceilings, 277 parking spaces and a 28-foot clear height with two loading docks.

Eastdil Secured served as the dual agent in the transaction. For more information, please refer to CoStar COMPS #4130486.
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