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Building featuring commercial leases purchased for over $130M

| Jun 21, 2018 | Commercial Leases

A large office campus that eBay occupies in San Jose, California, was recently purchased. The sale price for the building featuring commercial leases was over $130 million. Investors with ties to another country completed the major purchase, the likes of which are continuing to draw attention throughout the Golden State, including in Los Angeles.

The office campus that was recently bought spans 250,000 square feet and features four buildings. The investors, who paid a total of $132.5 million for the campus and also secured an $88 million loan from a bank, have completed other notable real estate deals recently as well. For instance, in July 2017, they bought an office complex containing the National Aeronautics Space Agency’s headquarters. The investors also purchased the DreamWorks Animation’s headquarters in Oct.  2017.

Several other companies have all purchased big properties in the northern part of San Jose as well. These high-profile businesses include Samsung, Microsoft, Google and Apple, for example. Demand is expected to continue to drive development activity and investment in northern San Jose.

Purchasing properties featuring commercial leases in California can be both exhilarating and intimidating, as one wrong decision can end up costing a buyer more than expected or may derail a potentially favorable deal altogether. This is true whether it is a buyer’s first time or fifth time completing this type of real estate transaction. Fortunately, a real estate attorney in Los Angeles can walk a buyer through the transaction to ensure that his or her best interests are protected during all stages of the process.