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August 13, 2020
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BAY AREA NEWS
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Two Silicon Valley Sales Total $11 Mil

8/23/18

We’ve got two recent commercial property sales in Silicon Valley to report. The transactions, one for a multifamily community in Santa Clara and the other for a stand-alone industrial warehouse in San Jose, totaled $11 mil.

In Santa Clara, a local Bay Area apartment group paid $7.6 mil for Claddagh Apartments, a 20-unit res community located at 1408 Reeve St. Originally constructed in 1958, Claddagh Apartments features one- and two-bedroom units, a community pool, on-site laundry and covered parking.

The firm of Levin Johnston represented the buyer, who plans to reposition and renovate the property in the months ahead.

In the other deal, a vacant, 10k sf industrial/flex warehouse in San Jose sold for $3.4 mil. The buyer plans to renovate and occupy the facility.

Situated on 0.73 acres at 524 East Brokhaw Rd, the property has been structurally upgraded, and includes 800 ampere and 120-240 volt heavy power, as well as on-site parking and a large, fenced yard. The seller, a local private investor, initially acquired the asset for $2.7 mil approximately 14 months ago.

Levin Johnston’s Adam Levin repped the seller in the deal. The asset is blocks from the junction of several major highway systems, providing immediate access to San Francisco and the entire Bay Area via Interstate 880, State Route 17, and U.S. Highway 101.





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