The buildings are located on eight acres at 401-405 River Oaks Pkwy., three miles north of the Mineta San Jose International Airport. The buildings were built in 1985 and 2001 and are 100% leased to WJ Communications.
"Given the above market rents currently in place and the continued strong recovery of the Silicon Valley office/R&D market, we really felt this property represented a prime opportunity to grow our holdings in this area," says Jamin Seid, Golden Gate principal.
Down the road, a possible exit strategy is redevelopment. The property lies within the Vision North San Jose residential zoning overlay. "The potential opportunity for future residential redevelopment only motivated us further," Seid says.
Greg Cioth and Edmund Najera of Eastdil Secured represented Blackrock Realty.
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