Preylock Holdings Purchased San Jose Office Campus

The investment firm acquired the Assembly at North First campus for $268.3 million.

Updated on Sept. 30, 2026 in Commercial

Isometric editorial illustration of a modern, geometric office campus with clean, matte building structures and minimalist landscaping. — Preylock Holdings finalized the $268.3 million acquisition of the Assembly at North First office campus in San Jose this week. AI Illustration. Upload story photo >

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Preylock Holdings has completed the purchase of the Assembly at North First office campus in San Jose for $268.3 million. The transaction involves a six-building property totaling 490,000 square feet that is currently fully occupied.

Why it matters

The property has become a target for investment due to its high-profile tenant list, which includes companies focused on robotics, advanced manufacturing, and artificial intelligence.

The 490,000-square-foot campus consists of six buildings and maintains a 100% lease occupancy rate. This sale represents a 15.9% increase over the property’s assessed value recorded in January 2026.

The players

Preylock Holdings

This Los Angeles-based investment firm specializes in acquiring and managing commercial real estate properties.

Exeter Real Estate Group

This organization operates as a commercial real estate firm that previously held ownership of the North San Jose campus.

Figure AI

This company is an artificial intelligence firm that currently leases space at the Assembly at North First campus.

Logitech

This technology company is a tenant at the North San Jose property and focuses on computer peripherals and software.

Teradyne

This developer and supplier of automatic test equipment is one of the companies leasing space at the campus.

The details

The office park, situated at North First Street and Headquarters Drive, is currently home to tenants including Figure AI, Logitech, and Teradyne. Newmark real estate executives managed the marketing of the campus prior to the finalization of the sale.

Exeter Real Estate Group purchased the campus for $192 million in 2021.
The property held a latest assessed value in January 2026.
Preylock Holdings acquired the Assembly at North First campus in September 2026.

Roadmap

This transaction highlights the ongoing demand for high-end office campuses that house specialized tech sectors like robotics and artificial intelligence. It reflects a broader shift where investors prioritize properties with long-term, specialized tenants over traditional general-purpose office space.

The continued full occupancy of the Assembly at North First campus by major technology players reinforces the area's role as a regional hub for advanced manufacturing and robotics. Residents may see continued development and professional activity within the North San Jose corridor due to the site's high demand.

The takeaway

Commercial real estate investors are increasingly focusing on campuses that host resilient tech sub-sectors like robotics to ensure high occupancy rates. This strategy allows property owners to command higher valuations even as other sectors of the office market struggle with vacancy.