Lane Partners acquired Brocade Communications Systems' headquarters campus in San Jose, Calif., for $225.5 million, the Silicon Valley Business Journal reported.
Brocade Communications, which was acquired by Broadcom Ltd., will continue leasing the property, but a new tenant could begin improvement work as early as June 2018, the report noted, citing Lane Partners principal Mark Murray.
The property at 110-130 Holger Way spans roughly 600,400 square feet of Class A space in three buildings and also has a five-story parking structure with 1,900 spaces. Lane Partners plans to renovate the 9.72-acre site's landscaping and build a new amenity area between two of the buildings.
Murray added that the four-story building at 110 Holger Way has the infrastructure in place to serve as a data center but can also be kept as office space. The buyer is open to lease the property to multiple tenants, but the campus "screams corporate headquarters," the Dec. 1 report noted.
The Brocade complex is the only investment that Lane Partners owns in San Jose after it sold for $105 million the six-building Orchard Commons research and development office park, a property it acquired in 2012 for $31 million, according to the report.
