U.S real estate development company The Muller Co. and CIGNA Investment Management have acquired Century Plaza, a six-story office building in San Jose, for $63.4 million from New York Life Real Estate Investors.
The firms plan to rebrand the property and invest approximately $4.1 million to upgrade the facade of the building, landscaping, the lobby, restrooms, and corridors.
The Muller noted that the move would allow it to add value by executing a strategic business plan to reposition the asset as a first-class office destination.
Last March, The Muller Co. acquired Canyon Park Technology Center, a 924,634-square-foot office campus in Orem, Utah.