DRA Advisors Acquires Industrial Portfolio From Blackstone In Bay Area For $149M
901, 1001, 1123, 1151 Cadillac Court, 591 North King Road & 1721 Rogers Avenue
1,612,200 SF
Summary
The industrial properties located at 901, 1001, 1123, 1151 Cadillac Court, 591 North King Road, and 1721 Rogers Avenue in Milpitas and San Jose have been sold for $149,000,000. The total square footage of these properties amounts to 537,400 square feet, with a price per square foot of $277. The sale involved the buyer, David Luski of DRA Advisors, and the seller, Stephen A. Schwarzman of Blackstone.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $149,000,000
- Address: 901, 1001, 1123, 1151 Cadillac Court, 591 North King Road & 1721 Rogers Avenue
- Market: Milpitas & San Jose
- Buyer: David Luski - DRA Advisors
- Seller: Stephen A. Schwarzman - Blackstone
- Square Footage: 537,400
- Price Per Square Foot: $277
A New York-based real estate investment group, managed by DRA Advisors, has acquired a significant portfolio of office, commercial, and industrial buildings in the Bay Area for over $100 million. The purchase includes multiple buildings totaling over 500,000 square feet in San Jose and Milpitas, demonstrating sustained investor interest in Bay Area real estate despite challenging market conditions.
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