"A big tech campus in Mountain View has been bought in a deal whose price suggests that values could be starting to stabilize in at least some areas of the South Bay. The five-building office hub has been purchased for $193 million, according to documents filed on Jan. 20 with the Santa Clara County Recorder's Office. PSAI Realty Partners, acting through an affiliate, bought the Mountain View Corporate Center, which has addresses ranging from 301 to 381 E. Evelyn Ave."
"Rockwood Capital was the seller of the 16-acre tech campus, which totals 289,000 square feet, according to the public documents. The property was bought for a price that was 1.4% above the tech hub's assessed value of $190.3 million as of January 2025. Rising real estate values could offer some hope that office markets are starting to stabilize in the South Bay."
PSAI Realty Partners, through an affiliate, purchased the Mountain View Corporate Center at 301–381 E. Evelyn Ave. The five-building, 16-acre tech campus totals 289,000 square feet. Rockwood Capital sold the property for $193 million on documents filed Jan. 20 with the Santa Clara County Recorder's Office. The sale price was 1.4% above the assessed value of $190.3 million as of January 2025. Recent years saw depressed office values and elevated vacancy rates that led to foreclosures and discounted sales across the Bay Area. A recent surge in leasing activity and this sale could indicate early stabilization and a potential rebound in the South Bay office market.
Read at www.mercurynews.com
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