Updated Sep 5, 2024
Dollinger Properties Acquires 40K-SF Office Building In San Jose For $9.1M
150 Nortech Pkwy San Jose, CA 95134, USA
$9,100,000
$227/SF
Building Size
40,000 SF
Asset Type
Industrial
Closing
May 2, 2023
About this deal
AI
An affiliate of Dollinger Properties has acquired a 40,000-square-foot office building located at 150 Nortech Parkway in San Jose, California. The property was purchased for approximately $9.1 million, as confirmed by documents filed with the Santa Clara County Recorder's Office. Situated on a 2.5-acre parcel, the building presents a prime opportunity for the development of a modern office or life sciences facility. Its proximity to Google's tech hubs in San Jose's Alviso district adds to its appeal.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $9,100,000
- Address: 150 Nortech Pkwy San Jose, CA 95134, USA
- Market: Not specified
This acquisition by Dollinger Properties marks a significant addition to their portfolio. With the potential to create a cutting-edge office or life sciences space, the property positions Dollinger Properties in a strong position in the San Jose market.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.74%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93