SAN JOSE, CALIF. — TMG Partners, in partnership with accounts managed by global investment firm KKR, has purchased Skyport Plaza, an office and retail complex at 1650 and 1700 Technology Drive and 50 and 90 Skyport Drive in San Jose. Terms of the acquisition were not released. In conjunction with the purchase, TMG Partners signed a long-term lease with the County of Santa Clara that, after extensive renovation of the two office buildings, is projected to commence in the first quarter of 2029 through 2059.
Completed in 2001 and institutionally maintained, the 435,000-square-foot Skyport Plaza features floor plates of approximately 25,000 square feet. The property consists of two eight-story office towers totaling 393,000 square feet and two retail buildings totaling 42,000 square feet. The retail portion is 97 percent leased to a childcare facility, restaurants and cafés.