CBRE Global Investors is buying a $200m (€183.9m) office building in California, according to sources familiar with the matter.
IPE Real Assets understands that the manager has agreed to buy the 369,000sqft 237 At First office complex in San Jose from a partnership between developer South Bay Development Company and PCCP.
The first building in the complex was developed in 2016 and the second one was completed last year.
The asset, which was put up for sale in January this year, had a 64.5% occupancy at the time.
CBRE declined a reques for comment. South Bay did not respond to a request for comment.