Samsung just dropped another $29.5 million in cash on North San Jose real estate, scooping up a research and office building at 3775 North First Street that sits right next to its regional headquarters. It is the South Korean tech giant's second such purchase near its campus in roughly 20 months, and it signals the company is not slowing down its land grab in the heart of Silicon Valley.
A public document filing dated October 15 confirmed the deal, according to The Mercury News. The newspaper reports the building totals 68,000 square feet and sits on 4.6 acres, though other property listings describe it slightly differently — CBRE's marketing materials put the structure at roughly 68,024 square feet, while a listing from Held Properties pegs it at 67,733 square feet on the same 4.6-acre site. Whatever the precise footprint, the purchase builds directly on Samsung's earlier move into the neighborhood.
That earlier deal came in February 2025, when Samsung paid $27 million to buy a 70,700-square-foot building at 3725 North First Street from Apple, per the same Mercury News report. Combined, the two acquisitions give Samsung ownership of an additional 138,700 square feet and control of 9.8 acres of land adjacent to its campus at 3655 North First Street, the outlet notes.
Room for Hundreds More Workers
The newly acquired office spaces are large enough to potentially accommodate a combined 500 to 700 workers, according to the Mercury News account. The additional land could support significant redevelopment.
Colliers executive vice president David Sandlin told the outlet the purchase reflects well on both the company and the surrounding market. “The deal shows Samsung's confidence in Silicon Valley,” he said, adding that it also points to the strength of the North San Jose office market and that Samsung's continued growth in the area amounts to positive news for the region.
Property records cited by the Mercury News show the building last traded in 2018, when SVP Management paid $18.2 million for it — meaning its value has climbed roughly 60% over eight years. The 3775 North First Street site also sits near Samsung Group's North American headquarters campus, according to a listing from Held Properties, which also notes the property is adjacent to a 377,000-square-foot office campus recently acquired by Google. A separate CBRE listing for the building describes it as a single-story research-and-development and manufacturing space with lab areas, roughly 18 feet of clear height, 4,000-amp switchgear and a 1,000 kVA transformer.
A Campus Built for Growth
Samsung's existing North San Jose campus already spans 1.1 million square feet and includes a 10-story tower, according to KTVU. City officials have said more than 10 million square feet of commercial and office development is in the pipeline for the North San Jose area, the station reports.
That buildout is landing amid a broader rebound in the South Bay office market. Tenants filled 3.1 million square feet of office space during the first quarter of 2026 — the strongest three-month stretch since the third quarter of 2019 — according to a report from SiliconValley.com. Tenants also occupied a net 1.1 million more square feet than they vacated during the quarter, with artificial intelligence companies driving much of that activity. Newmark described the Silicon Valley office market's recovery as continuing to build momentum across key demand sectors entering the year, per the same report.
North San Jose's office vacancy rate specifically fell to 17.7% in the first quarter of 2018, down from 24.2% in the fourth quarter of 2017, according to Bisnow. Samsung is far from the only tech heavyweight circling the neighborhood. Bisnow reports that Microsoft bought 65 acres in North San Jose for more than $73 million, while Micron Technology leased a three-building, 541,000-square-foot campus with plans to move hundreds of employees in from Milpitas. Microchip Technology, meanwhile, paid $40.8 million for 4.8 acres at 450 Holger Way that includes a building it already occupied.
Other North San Jose deals from 2018 included Lincoln Property Co. and PCCP's $144.5 million purchase of a seven-building office park, and a joint venture between Ocean West Capital Partners and Hana Alternative Asset Management's $132.5 million purchase of the 250,000-square-foot North First Commons. Nearby, Super Micro Computer paid $80 million for the former Fry's Electronics headquarters, a site approved for redevelopment into a 1.9-million-square-foot office campus, according to The Real Deal. That same property had once been slated for an even larger 3.8-million-square-foot buildout before the office market slumped during the shift to remote work.
