SAN JOSE — A famed developer from Japan has bought a big tech campus in north San Jose in a head-spinning Silicon Valley mega-deal valued at $429 million.

Mori Trust, a Japan-based developer and real estate investor that has begun to purchase properties in the United States, is the new owner of the San Jose tech campus, according to several sources with knowledge of the transaction.

The campus, which is fully leased to Micron Technology, was bought on March 11 for $429 million in cash, Santa Clara County property records show. The deal is believed to be Silicon Valley’s largest property purchase so far in 2019. The campus is known as HQ @First.

“At a high level, this deal shows the interest on the part of global investors in Silicon Valley, the world’s premier technology market,” said Eric Fox, executive managing director with Cushman & Wakefield, a commercial real estate firm.

The deal also underscores the growing strength of the north San Jose market, which has begun to attract a steady stream of tech company leases and property purchases, as well as an influx of dollars from realty investors.

“This really speaks to the success of north San Jose and everything that is going on there,” Fox said.

The complex consists of 604,000 square feet of offices and a multi-level parking garage. It is located on Holger Way near the interchange of State Route 237 and Zanker Road. In July 2018, Micron Technology struck a deal to rent the entire complex through a 16-year lease.

At the time of the lease, Micron had 600 employees in nondescript Milpitas buildings and anticipated it would move about 1,000 employees into the striking new San Jose offices, which sport prominent Micron logos.

Over the 12 months that ended in November, Boise, Idaho-based Micron earned $14.75 billion on revenue of $31.5 billion, according to the Yahoo Finance site. The company is a powerhouse in providing chips for an array of uses, including mobile devices, artificial intelligence and other fast-expanding applications such as autonomous vehicles.

Several sources familiar with the deal confirmed that Mori Trust of Tokyo was the buyer. Mori Trust used an affiliate called MT Silicon Valley One to complete the purchase. The seller, Bay Area developer Lane Partners, declined to discuss the transaction.

Brokers Steven Golubchik, Ramsey Daya and Edmund Najera of NKF Capital Markets, a commercial real estate firm, were advisers on the transaction.

“Mori Trust’s investment highlights foreign capital’s continued interest in best-in-class assets within the Silicon Valley,” said Golubchik, a vice chairman with NKF Capital Markets, which is operated by Newmark Knight Frank, a commercial realty company.

The purchase price of $429 million appears to represent a significant profit for Bay Area development firm Lane Partners. Menlo Park-based Lane bought the office campus in 2017 for $225.5 million from Brocade Communications, which had just merged with Broadcom.

The deal also is a reminder that plenty of tech companies beyond Apple, Google, Facebook and Amazon are in big-time growth mode in Silicon Valley.

Other big north San Jose complexes have been grabbed by investors in recent months.

On Jan. 25, an affiliate of San Francisco Prosperity paid $47.8 million for a two-building office complex totaling 101,000 square feet on Orchard Parkway. On March 7, an affiliate of Toeniskoetter Development paid $54.1 million for two buildings totaling 148,000 square feet located at 2460 N. First St. and 2480 N. First St. near Component Drive.

But the $429 million purchase of the Holger Way campus is far larger, by magnitudes, and could be the biggest recorded deal in the Bay Area since last November, when Google paid $1 billion for a large tech campus in Mountain View a short distance from its Googleplex headquarters.

The deal also provides fresh validation of years-long efforts to create a village of office buildings, homes, hotels and retail in the area, including a Target store. Development of a coherent mixed-use project, which was called @First, was envisioned originally by Hunter Properties principal executive Deke Hunter.

“It took a lot of vision for a long time to make this happen,” Fox said. “It proved the idea of high-density development in north San Jose.”