G
ahrahmat Management has acquired a 64,300-square-foot office building in north San Jose for $10.8 million. The property management firm purchased the one-story building at 3939 North First Street from Office Properties Income Trust (OPI), based in Massachusetts. The deal translates to $168 per square foot and includes parking for 231 cars on a 4.3-acre site.

    This sale is part of OPI's larger effort to divest its Silicon Valley office portfolio, which spans over 750,000 square feet. As of July, the company had agreements in place to sell 12 properties worth around $93.5 million, with plans to close these deals by year-end. In 2022, OPI sold eight out of its 160 properties, and earlier this year, it listed its largest South Bay property for sale.

    Gahrahmat Management shares an address with Gahrahmat Properties, led by Max Gahrahmat. The company was founded in 2002 and is currently led by Mahmood Gahrahmat, according to state business records.