SOLD: $10,500,000
CAP Rate: 3.99% | Rentable SF: 129,646 | Price/Rentable SF: $80.98 | Parcel Size: 165,963 SF (3.81 AC) | Year Built: 1956
INVESTMENT HIGHLIGHTS
Rare single tenant asset located in the Japantown area of San Jose
Generational redevelopment opportunity - Future potential to redevelop the entire parcel at the end of the lease term
Significantly below market rent - Current annual rent is $0.36/SF (estimated market rent $0.70/SF)
Corporate lease from Gordon Biersch with annual CPI rental escalations (no less than 3%, no greater than 8%)
Mission critical, state-of-the-art facility that was designed and engineered by Dan Gordon, co-founder of Gordon Biersch
San Jose has a median yearly household income nearly $50,000 higher than the national median