A biotech firm with a global reach has bought a big north San Jose tech building in a deal that shows at least some office buildings can capture higher values.
SAN JOSE — A biotech firm with a global reach has bought a big north San Jose tech building in a deal that shows at least some office buildings can capture higher values even in the face of post-coronavirus economic maladies.
A review of property documents shows that the building’s value has increased in recent years. The building totals 51,800 square feet and occupies 3.5 acres, according to commercial property listings and the county Assessor’s Office database. The apparent rising value for the office and research building might provide hopeful indicators that some Silicon Valley buildings can maintain or increase their values if they are occupied by tenants with robust business outlooks and operations.
Miltenyi Biotec appears to be in growth mode in Silicon Valley. In 2017, the company was operating at a building on Humboldt Court in Sunnyvale that Google now owns. The biotech firm later shifted its Silicon Valley operations to the north San Jose building.
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