Silicon Valley tech buildings are purchased in $142 million deal
SAN JOSE — A veteran Bay Location real estate firm has purchased many structures, found at web pages in San Jose, Fremont, and Milpitas, in a deal that highlights the draw of sophisticated manufacturing and tech tenants.
Peninsula Land & Cash obtained the office and study buildings in numerous transactions with seller DRA Advisors, in accordance to documents filed with officials in Santa Clara County and Alameda County.
Palo Alto-based mostly Peninsula Land & Money paid out a combined $142 million for the properties in Silicon Valley, the residence data clearly show.
“We just see very good price in research and industrial buildings in good places,” reported Roger Fields a principal govt with Peninsula Land, which is a industrial authentic estate financial investment agency.
The buildings concerned in the promotions and the rates:
— $87.7 million for a group of south San Jose properties with addresses ranging from 6311 by means of 6351 San Ignacio Ave. With each other, these properties full at minimum a combined 331,400 square toes, in accordance to property listing solutions.
— $23.2 million for a two-developing complex in Milpitas making with an deal with of 223 via 237 S. Hillview Travel. The buildings jointly complete about 100,000 sq. ft.
— $16.7 million for a Fremont making at 3481 and 3501 W. Warren Ave. The setting up totals 68,700 square toes.
— $14.5 million for a Fremont making at 2800 Bayview Drive. The setting up totals about 59,000 sq. feet.
“All of the structures have tenants and they all accommodate highly developed production styles of employs,” Fields said.
One of the buildings serves as the headquarters of a maker of innovative batteries.
Enovix is in the West Warren setting up, which accommodates the company’s head places of work, analysis routines, and battery manufacturing functions in Fremont.
DRA Advisors, a New York Metropolis-dependent personal fairness company, was the vendor in the promotions, according to the county documents. Peninsula Land and DRA each acted through affiliate marketers. Westcore had an ownership interest.
The promotions show that Silicon Valley remains a very hot ticket for residence investors even in the confront of the economic uncertainties and troubles unleashed by the coronavirus.
“We are seeing a lot of demand for these structures that are suited for businesses concerned in high-finish producing,” Fields explained.