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Adv. Manufacturing - S. San Jose

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The Property consisted of two buildings totaling 286,330 SF, constructed in 1992 and located on a 17.4-acre parcel that fronted Highway 101 in South San Jose, CA. The Property was 100% leased to a credit tenant (Baa credit; $13.2 billion market cap) whom maintained a contractual expiration 18 months from acquisition, and was anticipated to vacate the Property at the end of their lease term due to their broader market consolidation into their new corporate headquarters. The in-place tenant was paying rent ~80% below market, offering the ability to receive stable, in-place cash flow from a credit tenant in the near term and the opportunity to re-lease the Property at materially higher, market rents post expiration.

The asset was recently sold to a public, industrial REIT who plans to re-entitle the site for a Class A, Industrial distribution site. The site was purchased for it's locational and power attributes.

Project Numbers

123K

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12K

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1,234

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