SAN JOSE — A North San Jose building bought at a discount compared to its prior value underscores the ongoing hard times for the Bay Area office market.
Paceline Investors, acting through an affiliate, purchased an office and research building at 2581 Junction Ave. for $12.2 million, according to documents filed on April 15 with the Santa Clara County Recorder’s Office.
The purchase price was 61.9% below the $32 million an affiliate of Nautilus Global Commercial Real Estate paid in 2018 for the 92,900-square-foot building, county real estate files show. It also was well below the $33 million asking price in 2025.
The building is rented to Ensurge Micropower, a battery maker. Ensurge has been seeking to sublease the building, according to real estate sources…