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Fully Leased Flex Property Trades for $33M

SAN JOSE, CA-The buildings total 123,500 sf, were built in 1985 and 2001, and are 100% leased to WJ Communications.

By Brian K. Miller | Updated on April 10, 2007

SAN JOSE, CA-A 123,500-sf office/R&D property in North San Jose has changed hands for $33.1 million. Blackrock Realty sold the fully leased, two-building development to Golden Gate Real Estate Inc., an affiliate of Emri Group, a private real estate investment firm with operations in San Francisco and Vancouver, BC.

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.

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