San Jose Office Campus Sold for $268 Million

The Assembly at North First campus was purchased by Los Angeles-based Preylock Holdings.

Updated on Sept. 30, 2026 in Commercial

San Jose Office Campus Sold for $268 Million

Live Poll

Do you believe commercial real estate transactions indicate a healthy economy in your local area?

Preylock Holdings acquired the Assembly at North First office campus in San Jose for $268.3 million. The 490,000-square-foot, six-building property is currently fully occupied by tech tenants.

Why it matters

The sale highlights ongoing investor demand for office properties in North San Jose that host established companies in artificial intelligence, robotics, and advanced manufacturing.

The campus, featuring six buildings and 490,000 square feet, sold for $268.3 million, marking a significant premium over the $192 million purchase price paid by Exeter Real Estate Group in 2021.

The players

Preylock Holdings

A Los Angeles-based real estate investment firm that manages and acquires office assets.

Exeter Real Estate Group

An investment management firm that focuses on industrial and office property acquisitions.

Newmark

A commercial real estate services firm that facilitates property sales and leasing transactions.

Figure AI

A robotics and artificial intelligence company that maintains corporate operations at the site.

Logitech

A global designer and manufacturer of consumer hardware and peripherals for home and office use.

The details

Newmark executives marketed the 100% leased campus to potential investors prior to the closing. The site, located at North First Street and Headquarters Drive, draws value from its diverse tenant base, which includes Figure AI, Logitech, and Teradyne.

Exeter Real Estate Group purchased the campus for $192 million in 2021.
The property reached its latest assessed value in January 2026.
Preylock Holdings finalized the acquisition in September 2026.

Home Renovation
Sept. 30
San Jose Sharks Purchased New Downtown Office Building

The Home Front

This transaction follows the broader trend of institutional investment in North San Jose properties tailored for high-growth tech firms. It highlights a departure from general office market instability by focusing on fully leased assets with specialized manufacturing and robotics tenants.

For residents in the area, property transactions of this scale can influence local business tax contributions and area development priorities. Homeowners should track city planning meetings to see how large-scale office investments may shape infrastructure and commercial zoning in the coming years.

The takeaway

Large-scale commercial sales in tech corridors often precede shifts in local employment density and regional transit demand. Keep an eye on municipal zoning reports to see how business headquarters changes impact your local commute patterns.