Cisco has lightened its footprint in North San Jose, handing off a chunk of its long-time campus while keeping an option to boomerang back if business heats up again. County records show the tech giant finalized the transfer of four office buildings and two parking garages last Friday, a move that comes on the heels of its Bay Area team consolidation into a larger Santana Row hub in 2024.
Sale Details and Filing
An affiliate of South Bay Development shelled out roughly $63 million in cash for the properties at 260 East Tasman Drive, 300 East Tasman Drive, 350 East Tasman Drive and 3750 Zanker Road, along with two garages, according to The Mercury News. County filings reviewed by the outlet show the deal was recorded last Friday and confirm the addresses are part of Cisco’s broader North San Jose campus.
Why Cisco Sold and Where Staff Moved
The selloff follows a broader reshuffling of Cisco’s Bay Area real estate after its acquisition of Splunk. The company began pulling teams out of multiple North San Jose buildings in 2024 and relocating them into a revamped Santana Row office at 3098 Olsen Drive, according to the Silicon Valley Business Journal. That strategy trimmed Cisco’s presence along Zanker Road and East Tasman Drive and effectively set up this disposal of space it no longer needed.
The Buyback Clause
The deal does not slam the door on Cisco’s return. The recorded documents give the company a right of first refusal if Building 10 at 300 East Tasman Drive or Building 11 at 350 East Tasman Drive hits the market again, an option Cisco kept in the agreement, according to The Mercury News. That kind of safety valve, paired with an all-cash purchase, signals Cisco wants the flexibility to reclaim key space if headcount or product priorities shift in the coming years.
Who Bought the Campus and What They Might Do
The buyer is an affiliate of South Bay Development, a local investor that has been actively scooping up and retooling office properties around the South Bay. The firm paid cash for the North San Jose parcel, according to recorded documents cited by The Mercury News. South Bay Development has executed similar plays nearby, including a 2024 purchase of The Quad at Tasman in Santa Clara, as reported by The Real Deal, leaving options on the table that range from re-leasing as is to repositioning the site for a different mix of tenants.
What’s Next for the Site
The recorded paperwork does not spell out any immediate redevelopment blueprint, so any rehab, conversion or fresh leasing push will track with demand and local approvals. For now the transaction trims Cisco’s owned office stock in North San Jose and hands a well-known local developer a sizable test case for how much office appetite is left as companies reassess their space needs heading into 2026.
