TMG Partners and KKR Acquire 435,000 SF Skyport Plaza in San Jose, Secure Long-Term County Lease

TMG Partners, in partnership with accounts managed by KKR, has acquired Skyport Plaza, a substantial office and retail complex located at 1650 and 1700 Technology Drive and 50 and 90 Skyport Drive in San Jose, California. The 435,000-square-foot property, completed in 2001, features two eight-story office towers totaling 393,000 square feet and two retail buildings spanning 42,000 square feet. The retail component is currently 97 percent leased to various tenants including a childcare facility, restaurants, and cafés.

Crucially, TMG Partners has simultaneously secured a long-term lease with the County of Santa Clara for the office buildings. This lease is projected to commence in the first quarter of 2029 and extend through 2059, following extensive renovations to the office space. This transaction highlights continued investment in strategically located, institutionally maintained properties within key California markets, with a focus on securing stable, long-term tenancy through significant capital improvements.