A six-building office and research campus near the corner of Winchester Boulevard and East Hacienda Avenue in Campbell has a new owner, and the sale price tells a story about the South Bay’s struggling office market. An affiliate of Strada Investment Group has acquired Vasona Technology Park for $115 million, with no per-square-foot figure stated in the available accounts, a sum that lands $32.3 million below what Kennedy Wilson paid for the same complex back in 2021.
The deal, first documented in filings with the Santa Clara County Recorder’s Office, was reported by The Mercury News. Kennedy Wilson had paid $147.3 million for Vasona Technology Park in 2021, meaning Strada’s purchase represents a notable markdown even before accounting for the broader shifts in commercial real estate values since then. The Mercury News also notes that Strada Investment Group’s ownership group received a $78 million loan from MAM Collateral Agent to help finance the acquisition.
Vasona Technology Park is a six-building office complex whose tenant roster includes some recognizable names. ChargePoint’s corporate headquarters sits on the campus, alongside Kaiser Permanente medical offices, and the site also houses Imperative Care and Creganna Medical, according to the same filings. That mix of an EV-charging giant, a major health system, and medical device firms gives the property a tenant base that leans toward healthcare and specialized technology rather than traditional office users.
A Steep Discount Tied to Campbell’s Office Slump
The sale doesn’t happen in a vacuum. Commercial office vacancy in Campbell reached 33.1% in the second quarter of 2026, according to Kidder Mathews, making it one of the highest-vacancy office submarkets in Silicon Valley. That figure is more than double Silicon Valley’s overall direct office vacancy rate, which was exactly 16.0% in the same quarter…