Category Archives: Recent Sales
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)
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.
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)
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.
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.
Address: 90 East Tasman Drive, San Jose, CA
Seller: Ingber, Ingber, Griffin Trust
Buyer: Market Street Capital Investors
RBA SF: 96,154 total
Lot size: 4.02 Acres (175,111 SF)
Selling price: $17,000,000 ($176.80/SF)
Type: Industrial – Flex R&D
This was a net leased investment, currently leased to Palmer College of Chiropractic. They have 7 years remaining on their current lease. The property recently underwent $1M in renovations.
Address: 1265 and 1272 Borregas Ave, Sunnyvale, CA
Seller: Rockpoint Group/Embarcadero Capital Partners
Buyer: Swift Realty Partners
RBA SF: 163,374 total
Lot size: 8.78 AC (382,457 SF)
Selling price: $30,000,000 ($183.63/SF) est.
Type: Industrial – Flex
They were purchased vacant.
CRE Investment Firm to Reposition, Restore Historic Landmark
Jamestown acquired the 12-building, 100,394-square-foot lifestyle and entertainment retail complex at 900 North Point Street for an undisclosed sum, according to a Jamestown release. The previous owner was Golden Gate Capital, a privately held investment company.
The retail portion of the asset was 55% leased at the time of sale and includes the Ghirardelli Square Chocolate Company’s U.S. flagship location and numerous boutique shops and restaurants.
The historic property is among a handful of San Francisco sites – including Coit Tower, the Transamerica Pyramid, the Painted Lady Victorian houses in Haight Ashbury, and of course, the Golden Gate Bridge — associated instantly almost worldwide with the City By the Bay.
Ghirardelli Square encompasses 12 distinct buildings bounded by North Point, Beach, Polk, and Larkin streets. The property also includes a 10-level, 283-space subterranean parking garage, and a separate two-level above-grade parking structure located across from the complex.
COO Michael Phillips noted that of the 16.5 million visitors annually to San Francisco, about three-quarter visit the wharf area.
Ghirardelli Square’s original structures were built over a 100-year period beginning in 1864. They were retrofitted and significantly updated between 1966 and 2009. The square was an early example of adaptive reuse in the 1960s when prominent San Francisco businessman William M. Roth bought the site to prevent it from being torn down and replaced with apartments.
By Natalie Dolce (GlobeSt.com)
SAN FRANCISCO- GlobeSt.com has learned that while sources involved could not disclose a sales price, an unidentified industry source tells us that TMG Partners and Fortress paid around $154 million for Cisco’s eight building complex in San Jose, CA. The eight office/R&D buildings are currently occupied by Cisco and totaling approximately 810,600 square feet on Tasman Drive.
Cisco, which will be leasing back the entire eight–building campus at closing, will vacate the property incrementally over time starting in January 2014 to accommodate a complete renovation of the buildings. Improvements will include extensive landscaping and exterior façade modifications, new site monuments and signage, parking lot and common area upgrades, including new seating and outdoor meeting areas.
In addition, updating of the interior common areas and building systems will be undertaken. The remodeled buildings will appeal to large tenants looking for contiguous space in a campus environment or a tenant seeking one, two or three buildings—with the added option to phase into a larger campus over several years.
Read entire article here.
Address: 1616-1636 Gilbreth Road, Burlingame, CA
Seller: Max Hansen & Sons
Buyer: Kael Foods
RBA SF: 30,000
Lot size: 1.62 AC (70,567 SF)
Selling price: $4,375,000 ($145.83/SF)
Type: Industrial – Distribution Warehouse
This was an owner/user purchase. The new owner plans on renovating the rear unit, while there are two tenants currently occupying the two front spaces.
Address: 2345 Paragon Drive, San Jose, CA
Seller: Stella Capital
Buyer: Lextec Components
RBA SF: 36,704
Lot size: 1.78 AC (77,536 SF)
Selling price: $3,400,000 ($92.63/SF)
Type: Industrial – Distribution Warehouse
This was an owner/user purchase.