SAN JOSE — A big San Jose tech and research building has been bought by a veteran Bay Area developer in a deal that shows ongoing interest in the Silicon Valley property market.
Peninsula Land & Capital, through an affiliate, paid $23 million for the building, documents filed on April 8 with the Santa Clara County Recorder’s Office show.
The just-bought building is located at 2950 Zanker Road in north San Jose, according to the property records.
“This fits our strategy of investing in buildings that are suitable for high-end manufacturing, or research and development,” said Roger Fields, a principal executive with real estate firm Peninsula Land & Capital.
The building totals 69,700 square feet, according to the website of the seller, Menlo Equities. The one-story building was constructed in 1984 and renovated in 1999.
At present, the building is empty, according to Fields. Peninsula Land & Capital intends to find one or more tenants to lease…
