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CBRE Arranges $95M Sale of San Jose R&D Property

CBRE Arranges $95M Sale of San Jose R&D Property

JJ&W has purchased Montague Crossing, a 209,000-square-foot R&D property in San Jose, CA. CBRE’s Scott Prosser, Joe Moriarty and Jack DePuy represented the buyer in the $94.65 million, off-market 1031-exchange. The seller was Four Corners Properties and Rockwood Capital.

Montague Crossing, located at Junction Avenue and East Trimble Road, is comprised of three buildings on 12.39 acres. The facility is 100% leased to three R&D tenants in the semiconductor and advanced manufacturing sectors.

“Navigating today’s market headwinds can be challenging, but assets like Montague Crossing that are centrally located, renovated and fully-leased are well-positioned for long-term growth. We’re pleased to represent the buyer and deliver an attractive core asset for our clients,” said Prosser.

“Adding a blue-chip asset like Montague Crossing to our portfolio is an exciting milestone for JJ&W and reaffirms our commitment to continued investment and growth in the South Bay,” commented JJ&W CFO Bob Raybuck.

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Inside The Story

CBRE's Scott ProsserFour Corners PropertiesRockwood Capital

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Sale/Acquisition
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