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July 22, 2019
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NORTHERN CALIFORNIA NEWS
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Embarcadero Capital Partners Acquires 108k sf, Value-Add Building in North San Jose

3/08/19

Embarcadero Capital Partners picked up a 108.4k sf office/R&D building in North San Jose in a deal that closed in December of 2018. The two-story, steel-framed building sits on 5.2 acres at 2125 O’Nel Dr, adjacent to Hwy 101 and one block from North First St.

The building was originally developed in 1984 but underwent significant renovations in 2012. In its current condition, the two-story building is well configured for any technology user with a need to house multiple functions under one roof.

Featuring large and flexible floor plates, dock-high loading facilities, and unusually large power infrastructure, the property can serve a variety of tenants, from office users to lab-heavy R&D operators. Centrally located, the project offers convenient access to San Jose’s transportation infrastructure, including major highways, San Jose’s airport, and the Karina Court VTA light rail station

Eric Fox, Steve Hermann, Adam Lasoff, Seth Siegel, and Ryan Venezia with Cushman & Wakefield represented the seller, PSAI Realty Partners, in the transaction. C&W’s Erik Hallgrimson, along with Craig Fordyce of Colliers International, provided local market advisory.

“2125 O’Nel is a highly functional institutional grade property in the heart of Silicon Valley with exceptional Highway 101 visibility and offering the buyer significant near-term upside,” said Fox. “At the time of sale, the building was 100% leased to a single tenant having just under a year of term remaining, although they have signed a lease at another property in order to accommodate expansion. The near-term lease expiration provides the buyer with a rare value-add opportunity to reposition the asset along with the benefit of having some secure in-place cash flow.”





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