San Jose office building flips to Chinese buyer amid rising prices

2017-08-25
China

Another big deal by Chinese investor again! On Aug 3, a big office building in San Jose has been purchased by Han's Holdings, a Chinese company affiliated with Han's Laser which makes laser equipment, for $48.5 million from Brookfield Property Group just a few months after Brookfield acquired it with $47.5 million in April. The 118,000-square-foot office building has a 10 year lease agreement with tech company Cavium, which makes semiconductors and expands its employee base dramatically in recent years. The Bay Area is very popular among Chinese investors. They have found access to avoid regulatory capital controls and move money out of China now, according to Chris Shaffer, a senior Managing Director with Newmark Cornish & Carey. Read more here

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