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Bay Area Buildings Change Hands

SAN FRANCISCO-As investors gain confidence in the future stability of the San Francisco Bay Area commercial real estate market, several buildings have sold across the bay.

By Michelle Savage | Updated on February 22, 2003

SAN FRANCISCO-Several buildings in the San Francisco Bay Area have traded hands recently, selling for as much as $28.5 million, indicating confidence in the commercial real estate market.

Global Lundy LLC. has acquired a 131,000-sf building from Community Foundation Silicon Valley for $ 28.5 million.. Sobrato Development Cos had donated the building to the foundation. The building, which is located at 2334 Lundy Avenue in San Jose, is currently leased to Verio. Larry Blickman of BT Commercial negotiated the deal on behalf of both parties.

Marshall Rothman, an independent investor, purchased a 27,000-sf building near Sonaoma County Airport for approximately $4.4 million from Basin Street Properties. The building, which is located in the Oak Valley Business Park, is currently 100% leased. Jeffrey Wilmore of Keegan & Coppin represented both parties in the deal.

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