San Jose, Calif. (September 24, 2018) – Hangzhou Overseas Center Inc., a technology and business service company backed by the city of Hangzhou, China, has purchased a two-story office building, located at 160 East Tasman Drive in San Jose, California, from LBA Realty to run a comprehensive service platform named Q Bay Center. Kidder Mathews commercial real estate brokers, Rico Cheung, Eric Bluestein, Jimmy Cacho, and Kyle Hipple, represented the buyer in the transaction.
The 112,232 square foot, Class B building was built 1990. It is in the North San Jose neighborhood, close to Levi Stadium and along the light rail line.
Hangzhou is the capital and most populous city of Zhejiang Province in China. Q Bay Center will act as a window to promote the city of Hangzhou and to give companies in the region a greater global reach. As an American company, the goal of the center is to nurture international startups into successful American companies and provide guidance on following United States regulations and laws.
According to Q Bay Center’s CEO, Chenpeng Yao, the platform will include an R&D service center for technology companies and biotech lab space for some startups based in the Bay Area. Their vision is to foster research and collaboration between Hangzhou and Silicon Valley.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with over 700 real estate professionals and staff in 20 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $7 billion in transactions, manages nearly 50 million square feet of space, and conducts over 1,500 appraisals annually. For more information, visit kiddermathews.com.