"The computer networking giant sold the buildings for $63 million to South Bay Development, a veteran real estate firm, according to documents filed on Dec. 19 with the Santa Clara County Recorder's Office. Cisco Systems sold four north San Jose office buildings with addresses of 260, 300, and 350 East Tasman Drive, and 3750 Zanker Road, as well as two parking garages in the vicinity, the county documents show."
"Cisco's purchase also includes an agreement that gives Cisco a right of first refusal to buy some of the buildings under certain circumstances. "Because of unique aspects of the property and Cisco's operations in the vicinity of the property, Cisco desires to retain a right of first refusal to purchase building 10 (300 East Tasman) and/or building 11 (350 East Tasman)," Cisco Systems stated a document that was filed the same day the purchase deed was recorded."
Cisco Systems sold four office buildings at 260, 300, and 350 East Tasman Drive and 3750 Zanker Road, plus two nearby parking garages, to South Bay Development for $63 million. The buyer paid all cash and the transaction was recorded Dec. 19 with the Santa Clara County Recorder's Office. The properties form part of Cisco's north San Jose headquarters campus. Cisco had vacated those sites in 2024, moving several units to a west San Jose Santana Row office to co-locate with Splunk employees. The sale agreement preserves Cisco's right of first refusal to repurchase Building 10 (300 East Tasman) and/or Building 11 (350 East Tasman) under certain circumstances.
Read at The Mercury News
Unable to calculate read time
Collection
[
|
...
]