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California  + Bay Area  + Retail  | 

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.

Read More News Stories About: Marcus & Millichap
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Marcus & Millichap's Sergunin

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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