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Silicon Valley: Will Records or Regular Be More Apt?

Unemployment recently dropped to 2.6%, fueling continued strong demand in the local multifamily sector which continues to drive increased investor interest, and despite the rise in vacancy, demand for office is steady.

By Lisa Brown | Updated on January 31, 2018

Velocity at Lawrence Station Velocity at Lawrence Station is located at 3488 and 3508-3518 Agate Dr.

SANTA CLARA, CA—Record-breaking stats continue to mount in the Valley. In a recent high price per unit sale, Velocity at Lawrence Station sold for $456,250 per unit, or a total of $25.55 million. The seller was Old Adobe Management Company and the buyer was a private owner.

“This is the ultimate example of a successful full-cycle investment,” says Robert Johnston, senior vice president of Levin Johnston. “The Levin Johnston team assisted Old Adobe Management Company in acquiring this 56-unit property in February of 2015 for $14.25 million. After extensive strategic renovations, the property’s value increased exponentially, enabling us to achieve a per-unit sale price that is the highest in the history of Santa Clara for a community with more than 10 units, according to CoStar.”

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