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May 20, 2016

Newly Renovated 250 W. Tasman Building Sold by TMG

Commercial Property Executive

Alex Girda

San Jose, Calif.- As TMG continues work at its Champion Station project in North San Jose, the developer managed to sell one of the buildings in the complex to a private investor. TMG worked with representation from Craig Fordyce and Mike Rosendin of Colliers, as well as Scott Mathisen of JLL. Meanwhile, the buyer's end was handled by Skip Whitney and Eric Bluestein, both with Kidder Mathews' China Services team.

Located at 250 W. Tasman Drive in North San Jose, the building offers 95,550 square feet of space. Previously a part of the Cisco campus, the building was extensively renovated and now offers covered patios and balconies, new entry features, a 900-square-foot café, LED lighting and a new signage program. The two-story building offers 47,775-square-foot floor plates, and occupies a 5.5-acre site. The area also includes Levi's Stadium, the home of the San Francisco 49ers, as well as a major light rail stop and the North First Street retail center.

Acquired by TMG Partners from Cisco in a sale/leaseback deal that included eight buildings on West Tasman Drive, the campus totals 810,000 square feet of space. Cisco began vacating the buildings in 2014, and TMG then sold four of them to a private investor. The remainder is occupied by ForeScout Technologies and Silver Spring Networks.

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