Therma LLC Signs 212683 Square Foot Lease At San Jose Logistics Center Represented By CBRE's Chip Sutherland & Brian Matteoni
650 North King Road
Building Size
212,683 SF
Asset Type
Industrial
Closing
Oct 28, 2025
AI
The asset involved in the transaction is an industrial property located at 650 North King Road in San Jose. This property has a total square footage of 212,683 and is classified as a Class A industrial warehouse managed by Ares Industrial Management and owned by an Ares Real Estate fund.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 650 North King Road
- Market: San Jose
- Landlord: Ares Industrial Management
- Tenant: Therma LLC
- Brokers: Chip Sutherland & Brian Matteoni - CBRE
Chip Sutherland and Brian Matteoni from CBRE represented the transaction, facilitating the full-building lease agreement signed by Therma LLC. This lease reflects the ongoing demand for modern logistics and manufacturing spaces within the Silicon Valley region.
Players
San Jose Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93