By Jon Peterson
The 561,465 square foot Brocade Communications corporate headquarters site in San Jose is now on the market for sale, according to sources familiar with the property. The three-building complex is located at 110, 120 and 130 Holger Way. The site is known as HQ @first.
Brocade is the owner of the property. The listing agent on the sale is the San Francisco office of NGKF Capital Markets Group. One of the people involved in the sale is Steven Golubchik, a vice chairman with NGKF. He declined to comment when contacted for this story.
The offering for sale gives potential buyers the chance to acquire a major asset in Silicon Valley at a 60 percent discount to replacement cost for similar product. The feeling in the brokerage community is that to build multi-story steel frame with finished office interior, excluding land, would likely be around $400 per square foot.
HQ @first was first developed in 2010 as the global headquarters for Brocade Communications. The building at 110 Holger Way covers four stories and 124,767 square feet. 120 Holger is a 7-story building of 218,349 square feet. 130 Holger is another 7-story building with the same square footage. These three buildings cover 9.7 acres of land.
The campus complex has many of the same amenities that technology companies are looking to have in their office space. This includes outdoor barbeque and patio areas, a basketball court, strong fitness center/locker rooms, game room, a cafeteria than can hold in excess of 300 people and an expansive executive business center. There is a total of 1,897 parking spaces in the complex.