San Jose Asset Nabbed for $21.5M
CBRE Capital Markets arranged the sale of 1704 Automation Parkway, a Class A, two-story, more than 84,000-square-foot office/R&D building located in San Jose. The property was purchased by Nautilus Global Investment for $21.5 million.
CBRE’s Scott Prosser, Joe Moriarty and Jack DePuy represented the seller, Soma Capital Partners and Atlas Real Estate Partners.
The two-story building, built in 1997, sits on 5.6 acres on Automation Parkway and recently underwent renovations, including a two-story lobby and exterior upgrades. The location is near Brokaw Road/Murphy Avenue/Hostetter Road, a main thoroughfare that connects to Interstates 880 and 680.
The building is 100% NNN leased to Quantenna Communications Inc. for more than seven years, which commenced in October 2017. CBRE’s Chip Sutherland and Sherman Chan arranged the lease on behalf of Soma/Atlas.
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