Strada Investment Group Buys Campbell’s 267,000 SQFT Vasona Tech Park for $115MM
Why this matters
Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- Disclosed office deal value tracked in September 2026: $2.2B across 23 reported transactions. All Office coverage →
Computed from Real Estate Trail’s own tracked coverage
Strada Investment Group paid roughly $431 per square foot for the Campbell campus, a steep discount to the $551 per square foot Kennedy Wilson paid in 2021. A six-building office and research campus in Campbell has tr…
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