Updated Nov 28, 2024
Prologis Acquires 111K SF Industrial Property In San Jose For $37.7M
6212 Hellyer Ave San Jose, CA 95138, USA
$37,700,000
$339/SF
Building Size
111,000 SF
Asset Type
Industrial
Closing
Jul 20, 2023
About this deal
AI
Prologis, a leading logistics real estate company, has acquired the 111,000-square-foot Silicon Valley Industrial Center in San Jose for a total of $37.7 million. This industrial property, located at 6212 Hellyer Avenue, boasts a remarkable 5.5 acres of land. The transaction reflects the growing enthusiasm among investors for the industrial sector, a trend that has been influenced by the ongoing softness in the office market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $37,700,000
- Address: 6212 Hellyer Avenue, San Jose
- Market: San Jose
- ACRES: 5.5
This acquisition was spearheaded by Hamid R. Moghadam, the CEO of Prologis. Moghadam played a crucial role in finalizing the deal, which further strengthens Prologis' position in the industrial real estate market. The purchase of the Silicon Valley Industrial Center showcases Prologis' commitment to expanding its portfolio with prime assets in key locations.
Players
Los Angeles Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93