A former Netgear headquarters in North San Jose just changed hands for about $33 million, a hefty price tag that still speaks to the hunger for lab-ready and R&D space even as the broader office market keeps reshuffling.
The roughly 142,700-square-foot building at 350 E. Plumeria Drive sold today for about $33 million, according to the Silicon Valley Business Journal. Netgear used the property as its headquarters for roughly 17 years before relocating its operations.
About the Building
The two-story structure totals about 142,700 square feet and is carved up into approximately 68,460 square feet of office space, 40,530 square feet of lab space and 33,710 square feet of warehouse. The mix gives it a flexible setup for life sciences users or advanced manufacturing operations.
Marketing materials highlight lab-friendly infrastructure, including ESD flooring, heavy electrical capacity and multiple loading docks, according to LoopNet.
Price Compared With Recent Transfers
Public records and property databases show the building last traded in late 2022 for about $37.9 million, so the latest $33 million sale comes in below that prior deal. The current assessed market value for the 2025–26 tax years sits higher than the new sale price, according to historical sales and assessment data from PropertyShark.
Where This Fits in the Market
Industry reporting describes early 2026 as a period of improving leasing momentum in San Jose, with AI and tech tenants expanding and net absorption turning meaningfully positive. Those trends help explain why investors are still circling well-configured R&D properties even as traditional office space takes longer to move.
A market update from Institutional Property Advisors points to stronger leasing activity in the first months of 2026, reinforcing the notion that buildings with lab or R&D potential are holding up better than generic offices.
Why the Building Appeals to Buyers
Technical specs at 350 E. Plumeria Drive include 4,000 amps of power, multiple dock-level loading doors and 18 EV chargers, features that reduce the cost and time needed to ready lab or advanced-manufacturing tenants. Those capabilities are explicitly called out in the building’s marketing materials and listings on LoopNet.
The buyer has not yet been identified in public filings, and initial reporting did not name a new owner. Market watchers note that transfer documents and title records often take several days to show up in county databases.
This story will be updated as buyer names and transfer paperwork become public. The Silicon Valley Business Journal also reported that buyer details were not available at the time of publication.
