Category Archives: Recent Sales

Terreno Acquires Three Building Investment Portfolio

Address:   2054-2070 Burroughs Ave, San Leandro, CA

Seller:   Service West, Inc.

Buyer:   Terreno Realty Corp.

RBA SF: 129,000 SF (Total 3 buildings)

Lot size: 5.98 AC (260,488 SF)

Selling price: $13,300,000 ($103.10/SF)

Type:   Industrial-Warehouse

The properties were 100% leased at the time of sale and had an estimated cap rate of 5.3%.

Kidder Mathews Assists Buyer in Purchasing San Jose Industrial

Address: 625 North King Road, San Jose, CA

Seller:   North King Limited

Buyer:   Kalyan Properties

RBA SF: 42,500 SF building

Lot size: 1.80 AC (78,408 SF)

Selling price: $3,612,500 ($85.00/SF on land)

Type:   Industrial-Warehouse

Kidder Mathews Assists Printing Company in Purchasing Burlingame Building

Address: 858 Hinckley Road, Burlingame

Seller:   Sheet Metal Workers Local #104

Buyer:   Essence Printing

RBA SF: 13,572 total

Lot size: 0.99 AC (43,124 SF)

Selling price: $3,121,560 ($230.00/SF)

Type:   Industrial – Manufacturing

This was expansion space for the buyer who does printing and needed heavy power.

Kidder Mathews Assists Exchange Buyer in Burlingame Land Purchase

Address: 40 Edwards Court, Burlingame, CA

Seller:   RILCO-Edwards, LLC

Buyer:   North First Street Properties Management LLC

RBA SF: 11,000 SF building

Lot size: 3.53 AC (153,766 SF)

Selling price: $6,800,000 ($44.22/SF on land)

Type:   Land Investment

The purchaser was in a 1031 exchange.  The property is leased to several parking clients.

San Jose Home Depot Trades for $15M

Address: 635 West Capitol Expressway, San Jose, CA

Seller:   HDSJ, LLC

Buyer:   1988 Fiore Living Trust

RBA SF: 122,265 total

Lot size: 11.43 AC (497,891 SF)

Selling price: $$15,575,000 ($127.38/SF)

Type:   NNN Investment – Retail

This investment had 22 offers submitted from a variety of 1031 exchange buyers.  This transaction represents a 3.77% cap rate.

Valley Mechanical Purchases San Jose Office Building

Address: 1180 Coleman Ave, San Jose, CA

Seller: Joan Raznatovich

Buyer: The Lighthouse Family Trust dba “Valley Mechanical”

RBA SF: 10,1620 total

Lot size: 0.47 AC (20,639 SF)

Selling price: $1,650,000 ($146.62/SF)

Type: Class C Office

Owner/User purchase.

Paper Company Wraps up an Industrial Purchase in Union City

Address:   2975 Volpey Way, Union City, CA

Seller:    Citrus Coast Distributors

Buyer:   P&R Paper Supply Company

RBA SF:  60,080 total

Lot size:  2.90 AC (126,324 SF)

Selling price:  $5,500,000 ($91.54/SF)

Type:  Industrial-Warehouse

The building features seven loading docks with four Kelley Load levelators, heavy power, clear heights of 24 feet, fire sprinklers and skylights.   This was an owner/user purchase.

Kidder Mathews Assists in Sale of Milpitas Industrial

Address:   311 Turqoise Street, Milpitas, CA

Seller:    Stanley Deck

Buyer:   Lenthor Engineering

RBA SF:  55,414 total

Lot size:  3.56 Acres (155,073 SF)

Selling price:  $4,308,438 ($77.75/SF)

Type:  Industrial-Warehouse

The property was sold to an owner/user.  The property had multiple upgrades including TPO Reflective Roof, air products nitrogen pipeline on-site, and multiple equipment pads.

201 Spear St, San Francisco Trades for $121 Million

Address:   201 Spear Street, San Francisco, CA

Seller:    Cornerstone Real Estate Advisors, Inc.

Buyer:   KBS Real Estate Investment Trust III

RBA SF:  246,563 total

Lot size:  0.87 Acres (37,897 SF)

Selling price:  $121,000,000 ($490.75/SF)

Type:  Class A Office

The property is approximately 80% occupied.

Invesco Pays Large Number for South San Francisco Warehouse

Address:   1070 San Mateo Ave, South San Francisco, CA

Seller:    Angelo Gordon & Co.

Buyer:   Invesco Real Estate

RBA SF:  453,051 total

Lot size:  19.50 Acres (849,420 SF)

Selling price:  $122,000,000 ($269.28/SF)

Type:  Industrial – Warehouse

This former GSA building was purchased by Angelo Gordon and then completely renovated after they signed a long term lease with FedEx.  They are in the process of completing an approximately 9,000 SF new construction retail space along San Mateo Ave as well.

This represents one of the largest transactions of an industrial building in the north peninsula in quite a while.  It shows how valuable infill locations in our market are, especially from a price per square foot perspective.  Of course it helps to have a credit tenant such as FedEx in toe; however, this is still a big number and shows another sign of confidence in the area.

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