California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
San Jose Ground Lease Trades to Tenant for $10M
Marcus & Millichap closed the sale of a 1.1-acre ground lease located at 3155 Stevens Creek in San Jose. The property sold off-market for $10 million. The land was encumbered by a long-term lease to Lincoln Auto Dealership.
“This prime location is highly sought after given its direct proximity to Valley Fair Mall and Santana Row, one of the top-performing shopping hubs in the country,” said Yuri Sergunin, first VP in Marcus & Millichap’s Palo Alto office.
Sergunin and J.J. Taughinbaugh, investment specialists in the firm’s Palo Alto office, represented the buyer, a tenant who owned the leasehold improvements on the property.
- ◦Sale/Acquisition


