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Bixby Adds to Valley Holdings With $21M Buy

SAN JOSE, CA-Making its fifth Silicon Valley purchase in the past 18 months, the Irvine-based investor acquires a 106,000-sf distribution center leased to Fed Ex.

By Brian K. Miller | Updated on January 02, 2008

SAN JOSE, CA-Bixby Land Co. says it has acquired a 106,000-sf industrial building here for $21.5 million. The Irvine-based investor-developer says the property is fully leased to Fed Ex, which operates a regional distribution center out of the building.

The building is located south of the Interstate 880-Montague Expressway at 710 Dado St. A source with Bixby tells GlobeSt.com that Fed Ex has nine years remaining on its lease.

Bixby has acquired five properties in the Silicon Valley in the past 18 months and plans to make additional acquisitions in 2008. In explaining the company’s interest in the market, Bixby’s VP of acquisitions and development Mike Severson says “the Silicon Valley has had strong leasing activity” over the past few years “driven by an increase in venture capital funding.”

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