Two tech companies strike deal for purchase of San Jose office site

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A tech company has bought a San Jose site from another tech firm in a deal that tops $20 million.

SAN JOSE — A tech company has bought a San Jose site from another tech firm in a deal that suggests a post-coronavirus malaise still afflicts parts of the Bay Area’s office market.

IPG Photonics, a maker of optical fiber lasers, sold the office site to ISE Labs, a technology services firm that has an operation in Fremont. Although IPG Photonics had owned the building for some years, the site was vacant at the time ISE Labs bought the property, according to commercial property listing services.

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