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.
Vasona's ownership history reflects just how much the property's valuation has swung across economic cycles. The complex was previously associated with a PIMCO-related joint venture before Kennedy Wilson acquired it for $147.2 million in July 2021, per The Registry Northern California Real Estate. At the time of that 2021 deal, the property's three primary anchor tenants had roughly seven years remaining on their long-term leases, a detail that had helped insulate the owner from short-term submarket vacancy spikes.
The Registry's reporting shows Kennedy Wilson paid about $551 per square foot in 2021.
Not an Isolated Case in Campbell
Vasona Technology Park isn't the only Campbell office property to trade at a steep discount this year. Hoodline previously reported that the 123,692-square-foot Lincoln Court complex at 2105 South Bascom Avenue sold for $24.6 million in May, a 59.7% markdown from its 2025 assessed tax value. Taken together, the two sales provide examples of discounted office trades in Campbell.
Strada's Broader Bay Area Portfolio
Strada Investment Group is a San Francisco-based firm co-founded by Jesse Blout and Michael Cohen, according to the company's own background materials. Strada also served as development manager for Chase Center in San Francisco. The firm has been active elsewhere in the region this year: on May 28, 2026, it bought 1 De Haro Street, a 133,427-square-foot mass-timber office building in San Francisco fully leased to tech company Samsara, for $103 million, or about $771 per square foot, per Connect CRE.
Strada Investment Group also purchased the Star Harbor Apartments complex on the Alameda shoreline, paying $153.7 million for the 372-unit residential property that incorporates a historic 1920s cannery. That deal, which closed in February 2025, was detailed in Hoodline's earlier coverage of how the cannery complex filled its retail spaces; that account does not state an occupancy figure. Across its recent deals, Strada has acquired properties including a fully leased tech office, the Star Harbor Apartments complex and Vasona.
Whether Strada plans to convert any of Vasona's office space into specialized R&D or medical clinic uses, or how much lease term remains on the anchor tenants as renewal windows approach, remains unclear based on available filings.
