Newmark has sold the Oakland Road Business Park in San Jose, California, for $37.2 million. The industrial, warehouse, and flex campus, spanning 177,117 sq. ft., was acquired by Peninsula Land & Capital. The property is situated at 1580 & 1630 Oakland Road in the San Jose market.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $37,200,000
• ACRES: 8
• Buyer: Peninsula Land & Capital
• Seller: Link Logistics
• Lender: J.P. Morgan Chase
• SF: 177,117
• PPSF: $210

The deal was facilitated by brokers from Newmark, including Edmund Najera, Jonathan Schaefler, Steven Golubchik, and Darren Hollak. The buyer, Peninsula Land & Capital, secured a $24.2 million acquisition loan from J.P. Morgan Chase. At the time of the sale, the property was 90% occupied by multiple tenants with an average tenure of eight years.