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Dollinger Properties Acquires Office Portfolio In San Jose For $56M

Property Image
SOLD
$56,000,000
Kelly Yoder
Jon DeCoite
+ 1

California

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Office166,928 SF
Sold 08/24/2021
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Property Image
SOLD

Dollinger Properties Acquires Office Portfolio In San Jose For $56M

2235 Zanker Road, San Jose, CA, USA

See Similar Deals
Office166,928 SF
Sold 08/24/2021
Kelly Yoder
Jon DeCoite
+ 1
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$335
Total Square Footage:166,928 SF
Transaction Type:Sale

Located in San Jose, the property at 2235-2249 Zanker Rd., 2340-2390 Bering Dr., and 225-245 Charcot Ave. has been sold for a price of $56,000,000. The office asset spans an area of 166,928 square feet, with a price per square foot of $335. The transaction took place on August 24, 2021, and the buyer was Dollinger Properties, represented by Scott Ahearn. Vista Investment Group served as the seller in this deal. Cushman & Wakefield brokers Alan Guterman, Jon DeCoite, Steve Horton, and Kelly Yoder facilitated the transaction.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $56,000,000
  • Market: San Jose
  • Buyer: Dollinger Properties - Scott Ahearn
  • Seller: Vista Investment Group
  • Brokers: Alan Guterman, Jon DeCoite, Steve Horton, and Kelly Yoder - Cushman & Wakefield
  • Square Footage: 166,928
  • Price per Square Foot: $335
  • Date: August 24, 2021
  • Address: 2235-2249 Zanker Rd., 2340-2390 Bering Dr., and 225-245 Charcot Ave.

The successful sale of this office property was made possible by the collaborative efforts of Dollinger Properties, Scott Ahearn as their representative, Vista Investment Group, and the team of brokers from Cushman & Wakefield, including Alan Guterman, Jon DeCoite, Steve Horton, and Kelly Yoder. The transaction showcases the vibrant real estate market in San Jose and highlights the value and potential of the office sector in the area.

Players

Alan Guterman
1 deal$56M volume
BROKER

Jon DeCoite
Cushman & Wakefield
2 deals$56M volume
BROKER

Steve Horton
Cushman & Wakefield
7 deals$138.2M volume
BROKER

Kelly Yoder
Cushman & Wakefield
7 deals$138.2M volume
BROKER

BUYER

Details

SOLD
IMAGE: Jon DeCoite, Alan Guterman, Steve Horton & Kelly Yoder DATE: 08/24/2021 ADDRESS: 2235-2249 Zanker Rd., 2340-2390 Bering Dr. & 225-245 Charcot Ave. MARKET: San Jose ASSET TYPE: Office BUYER: Dollinger Properties - Scott Ahearn SELLER: Vista Investment Group BROKERS: Alan Guterman, Jon DeCoite, Steve Horton & Kelly Yoder - Cushman & Wakefield SALE PRICE: $56,000,000 SF: 166,928 ~ PPSF: $335

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$198,956.17
Cash-on-Cash Return-1.27%
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