Affiliates of The Roxborough Group LLC and Paceline Investors, LLC have acquired 2581 Junction Ave., a 102,722-square-foot heavy-power R&D facility on a 5.4-acre site located in San Jose, for $29.2 million. The seller was not disclosed.
The property, originally constructed in 1983 and subsequently upgraded for advanced manufacturing use, is currently leased to Ensurge Micropower, a developer of solid-state battery technology.
“The acquisition of 2581 Junction aligns with Roxborough’s strategy of targeting assets with differentiated infrastructure in supply-constrained markets with strong underlying demand,” said Matt Yamodim, VP of commercial acquisitions at Roxborough. “Roxborough is excited to partner with Paceline to acquire an asset in a location that consistently attracts strong, high-quality tenants in a market that is seeing an influx of demand by companies in the hardware and manufacturing space.”
2581 Junction marks the first R&D investment in Silicon Valley for Roxborough Fund III, L.P., a $518-million discretionary fund focused on opportunistic and value-add investments.
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