SAN JOSE, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that private real estate investor Earl Pelligrini selected Dave Haugh, senior vice president, and James Viso, associate, both of the Industrial Group, to market for sale 142 acres of land known as the “Holy City” in Los Gatos (top left photo).
Located east of Highway 17 along the Old Santa Cruz Highway, the land is being marketed with the opportunity for development.
The Holy City was founded in 1919 by cult leader William E. Riker (lower left photo) and roughly 30 followers. It was incorporated as a town in 1926 and included tourist services, a restaurant and a gas station. The Holy City grew to more than 300 residents. It was disincorporated in 1959 and one retail building remains on the land. It also continues to have its own zip code: 95026.
“This large parcel of land provides prospective investors with the opportunity to develop in an area that is rich in history and is also easily accessible via Highway 17 and the Old Santa Cruz Highway,” said Haugh. “It’s a beautiful area with quite a bit of potential.”
Contact: Julia McCartney, Phone: 714.975.2230
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