Newmark Arranges $24.6 Million Sale of Lincoln Court Office Building in Campbell, California

CAMPBELL, Calif. — May 7, 2026 — Newmark has arranged the $24.6 million sale of Lincoln Court, a three-story, 124,724-square-foot multi-tenant office building located at 2105 South Bascom Avenue in Campbell, California, the firm announced. The buyer, Peninsula Land & Capital, is a real estate investment firm based in Palo Alto. The seller was not disclosed.

The transaction values the property at approximately $197 per square foot.

Deal Details and Brokerage Team

Newmark Executive Vice Chairman and President of Western Region Capital Markets Steven Golubchik, Vice Chairman Edmund Najera, Managing Director Darren Hollak, and Director Brendan Raney represented the undisclosed seller in the transaction.

"The sale of Lincoln Court represents another example of increased investor appetite for suburban multi-tenant office," said Najera. "The bidding process drew over 15 offers in the initial round, exemplifying investor sentiment for premium quality, transit-oriented suburban office with walkable retail amenities. Lincoln Court is a prime example of what investors are looking for in today's market."

The property sits on a 4.2-acre site and was originally constructed in 1986. Prior ownership completed a renovation in 2021, investing nearly $6 million in capital improvements that included an upgraded courtyard, lobby, and locker rooms with showers, as well as a new common area conference center and fitness center. At the time of sale, Lincoln Court was 56% leased to 25 tenants.

Location and Proximity

Lincoln Court is situated six miles southwest of downtown San Jose in Campbell, a city of approximately 43,000 residents. The property is walking distance to the Pruneyard Shopping Center and is located just off Highway 17, which provides direct access to the 280, 880, and 101 freeways. The building is also near San Jose Mineta International Airport and the Downtown Campbell VTA Light Rail Station.

Silicon Valley Office Market Context

According to Newmark Research, office vacancy in Silicon Valley stood at 15.7% as of the first quarter of 2026, with an average asking rent of $5.09 per square foot per month on a full-service gross basis. Against that backdrop, the competitive bidding process for Lincoln Court — which generated more than 15 first-round offers — reflected investor interest in renovated, amenity-rich suburban assets.

About the Firms Involved

Peninsula Land & Capital is a Palo Alto-based real estate investment firm.

Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate services firm. For the twelve months ended March 31, 2026, Newmark generated revenues of more than $3.4 billion and operated from more than 185 offices with over 9,600 professionals across four continents.

Photo Credit: Jeff Peters