LOS GATOS, CA-The 142-acre Holy City property, once an incorporated city but later a ghost town, is now on the market and viewed as a development opportunity. Private real estate investor Earl Pelligrini has named the Grubb & Ellis team of SVP Dave Haugh and associate James Viso, both of the company’s Industrial Group, to market the 142 acres of Holy City for sale.
The Holy City was founded in 1919 on land east of Highway 17 along the Old Santa Cruz Highway by religious leader and four-time unsuccessful California gubernatorial candidate William E. Riker with about 30 followers. It was incorporated as a town in 1926 and included tourist services, a restaurant and a gas station.
The Holy City grew to more than 300 residents. It was disincorporated in 1959 and one retail building remains on the land. It also continues to have its own zip code: 95026.
“This large parcel of land provides prospective investors with the opportunity to develop in an area that is rich in history and is also easily accessible via Highway 17 and the Old Santa Cruz Highway,” said Haugh. “It’s a beautiful area with quite a bit of potential.”
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