Saturday, December 21, 2013

HFF selected to market for sale 309,000-square-foot office complex in downtown San Jose, CA


Community Towers, 111 West St. John Street and 111 North Market Street
Downtown San Jose, CA

Steven Golubchik
SAN FRANCISCO, CA – HFF announced it has been selected to market for sale Community Towers, a two-building, 309,000-square-foot, transit-oriented office complex in downtown San Jose, California.

               Community Towers is a value-add investment opportunity with 63 percent of the rentable square feet expiring in the first three years with in-place rents approximately 27 percent below market rents at expiration. 

Located at 111 West St. John Street and 111 North Market Street, Community Towers is adjacent to the popular San Pedro Square and within close proximity to San Jose’s SAP Center (formerly HP Pavilion).

Nicholas Bicardo
The property provides immediate access to Highway 87 with connections to Interstates 280, 680 and 880, as well as US 101, and is a five-minute drive to San Jose’s Norman S. Mineta International Airport.  

The property was substantially renovated in 2007-2008 and is currently 94 percent leased with notable tenants including Kerio Technologies, Sunwize, Anatomage, and Rockwell Automation. 

The HFF investment sales team representing the seller is led by managing directors Steven Golubchik and Nicholas Bicardo and director John Simerlein.

“Community Towers provides investors the opportunity to acquire an asset with significant upside potential in a prime location,” said Simerlein.

John Simerlein
 “Downtown San Jose is one of the most rapidly evolving cities in Silicon Valley, with an abundance of restaurant and retail amenities, public transportation options including Caltrain, and a wide and growing list of  housing options all within walking distance to the property.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


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