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Kayne Anderson, through an affiliate, has purchased the Pactrust Business Center South in north San Jose for $30 million. The 7-acre property, sold by Pacific Realty Associates, features 95,000 square feet of office space across seven buildings, currently housing tenants including Hawk Ridge Systems, Lighthouse Photonics, 3D-Micromac America, Cephasonics, and EchoPixel.

This acquisition is part of Kayne's expansion in the Bay Area, following its $120 million purchase of a 16-building industrial portfolio in July. North San Jose is becoming a hub for tech and AI firms, with recent proposals for data centers from Menlo Park Equities and Goodman Group, indicating ongoing growth in the region's commercial real estate market.