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San Jose site that could be redeveloped lands big real estate buyer – Silicon Valley

SAN JOSE — An monumental exact property agency with hpreviousings nationwide has purchased an previous industrial constructing in San Jose that occupies a website That Can be redeveloped.

The acquisition by TA Realty, which used an affiliate To buy a constructing and land at 2205 Fortune Drive, factors to rising enterprise property worths On this part of the South Bay.

TA Realty paid $8 million for the property, Based mostly on paperwork filed on June 1 with the Santa Clara County Recorder’s Office.

The Boston-based enchancment and funding agency acquired the constructing by way of an all-money deal, the county property data current.

The simply-purchased constructing, constructed in 1979, totals 31,400 sq. ft, a submit on the Commercial Cafe property website reveals.

The property’s exact worth might reside Contained in the land beneath the many years-previous constructing, however.

The constructing occupies a 2-acre website. Which means it Might be potential To commerce The prevailing construction with A up So far office constructing that totals about 62,000 sq. ft, using typical enchancment density ideas.

TA Realty has been lively Inside the enterprise property markets in Santa Clara County In current occasions.

In 2020, The exact property agency paid $26.6 million for A mannequin new industrial constructing at 2144 Oakland Road in North San Jose that’s absolutely leased to a Santa Clara County authorities agency.

In 2021, The agency paid $77.1 million for a 5.4-acre parcel On the nook of East El …….

Source: https://www.siliconvalley.com/2022/06/03/san-jose-site-develop-lands-big-real-estate-buyer-tech-office/

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