SANTA CLARA — An office campus in Santa Clara has been bought for $87.2 million in a deal that suggests the Bay Area office market continues to wobble as a rough stretch for the sector persists.
Although office leasing has picked up throughout the South Bay, the region continues to struggle with a slump in office building values. This deal is a reminder of the shifting dynamics in the Bay Area office market.
Rubicon Point Partners, a real estate firm, bought four office buildings in Santa Clara, documents filed May 14 with the Santa Clara County Recorder’s Office show. The buyer acted through an affiliate.
The buildings have addresses of 3003 Bunker Hill Lane and 5303, 5353 and 5403 Betsy Ross Drive, according to the real estate documents. The campus totals 201,100 square feet…