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June 17, 2024
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Flexible Gilroy Building Sells for $13.8 Mil

5/17/24

A 125.6k sf commercial building on 13.7 acres in the Silicon Valley city of Gilroy traded hands in a $13.8 mil ($110/sf) transaction.

Located at 7900 Arroyo Circle, with extensive freeway frontage along Hwy 101, the property is currently used as an indoor/outdoor showroom by a Recreational Vehicle (RV) business. The flexible property can also accommodate a variety of commercial uses such as showroom, retail, warehouse, automotive, and more.

The property is surrounded by high end retail and office near the popular Gilroy Outlet Mall featuring numerous brand name stores. In addition, it also sits directly in front of a large parcel that was purchased by one of the largest data service centers.

The building was originally owned and occupied by a major global multichannel retailer brand that is also one of the world’s largest companies.

Cushman & Wakefield’s Miki Correa, together with CBRE’s Rick Shaffer, Marie Anderson and John Shaffer, represented the seller, Gilroy JRV LLC, in the transaction. The buyer was Gilroy Ventures LLC, a real estate investment entity.

“This is a unique versatile, multi-functional property on a large parcel with a premier location in southern Santa Clara County/Silicon Valley. The irreplaceable location offers extensive freeway frontage and is also near an abundance of amenities,” said Correa. “Given its profile, the asset provides the buyer with several near- and long-term investment strategies, including but not limited to re-tenanting the project, future redevelopment including expanding the existing building footprint, and more.”




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