A seven-building office campus in North San Jose known as Rio Tech Office Park has changed hands in a $164.3 million transaction, according to reporting from the Silicon Valley Business Journal. The multi-building complex is situated in a commercial area along the Guadalupe River and is configured as a low-rise office and research-and-development environment.
The seller was an affiliate of Washington Holdings, a Seattle-based real estate firm active across the western United States. Washington Holdings acquires, develops and manages a range of commercial properties and has established a sizable presence in Silicon Valley. The buyer in the transaction was an affiliate of BGO, a global real estate investment management advisor that also provides real estate lending and services.
Rio Tech Office Park totals approximately 375,000 square feet across seven buildings, featuring a mix of one- and two-story office and research-and-development structures. The campus is leased to multiple tenants, including Honda Research Institute, F5 Networks and Frore Systems. Its location within a commercial corridor along the Guadalupe River positions the property within an established employment node in North San Jose.
Washington Holdings originally acquired the Rio Tech Office Park site for $170 million in 2021, the Business Journal reported. Beyond this property, the firm maintains a 2.5-million-square-foot footprint in Silicon Valley encompassing research-and-development properties, retail assets and other commercial holdings. The sale of Rio Tech Office Park represents one component of that broader regional portfolio activity.
BGO, the buyer, is described as a global real estate investment management advisor with capabilities that span investment management, lending and real estate services. While specific business plans for Rio Tech Office Park were not disclosed, the acquisition adds a sizable North San Jose office and R&D campus to BGO’s portfolio.
Additional transaction details, such as cap rate and financing terms, were not reported. However, the confirmed sale price, prior acquisition price and current tenant mix provide a clear outline of the asset profile and recent ownership history for this North San Jose office and research-and-development campus.
