Silver Creek Business Center
Office/Insustrial, 141,000 Sq Ft
San Jose, CA
In 2004 while Silicon Valley was still beginning to recover from the Dot Com Crash, we identified a niche through detailed market analysis that showed commercial condominiums and small owner-user commercial building had high demand, with only 3% vacancy and exceptionally high sales prices.
We identified suitable land for developing 8 buildings that were each divisible in half for a total of 16 condominium units, which allowed buyers to occupy one unit and lease the other out or to occupy the entire building. The size range for the buildings was 7,000 to 14,000 square feet, which differentiated the product type from the typical 1,200-3,000 commercial condominiums that were being produced by competitors in the market. The project successfully sold out on schedule and with higher than projected pricing.
Location: San Jose, California
Size: 141,000 sq. ft.
Acquired: Nov 2004
Status: Sold Jan 2007