Tech firm snaps up empty Silicon Valley office at a bargain

A Silicon Valley electronics company recently bought a large, empty office building in San Jose for about $18. 8 million—roughly a quarter less than what lenders had estimated it was worth. The 78, 200-square-foot property at 5729 Fontanoso Way had been sitting unused for years after a biotech startup signed a lease but never moved in. Public records show the building went through a foreclosure, meaning the original owner defaulted on loans and the lender took control.Documents reveal that the seller, Evergreen Advantage, listed the building’s value at $24. 5 million in 2024, but the tech firm paid significantly less. This kind of deal suggests the company saw an opportunity in a struggling property. The buyer, Rocket EMS, specializes in assembling circuit boards but hasn’t shared plans for the new space yet. For now, the building’s future remains unclear. What makes this deal interesting is that it happened despite economic ups and downs. Some might wonder why a tech company would invest in a vacant, foreclosed property instead of waiting for better market conditions. Others might question whether this signals confidence in Silicon Valley’s long-term growth—or just a smart financial move to expand at a lower cost.