Saturday, August 25, 2018

Levin Johnston Directs Two Property Sales Totaling $11 Million in Silicon Valley, CA



Robert Johnston
SILICON VALLEY, CA   Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has successfully directed two commercial property sales totaling $11 million in the Silicon Valley.

The properties include a multifamily community in Santa Clara, California and a stand-alone industrial warehouse in San Jose, California.

“These transactions demonstrate continued investor appetite across various product types in the Silicon Valley,” says Robert Johnston, Senior Vice President of Levin Johnston.

 “Even with property values on the rise, investors understand the inherent value in core locations with extremely strong market fundamentals. Both of these transactions represent well-located assets that are poised for long-term appreciation.”

Levin Johnston’s recent transactions include:

Adam Levin
$7.6 Million Sale of Claddagh Apartments in Santa Clara, CA

Levin Johnston directed the acquisition of a 20-unit multifamily community in Santa Clara, California for $7.6 million. Levin Johnston represented the buyer, a local apartment group in the Bay Area.

The property is located at 1408 Reeve Street in Santa Clara, California.

Sale of 10,000 Square-Foot Warehouse in San Jose

Levin Johnston also directed the sale of a vacant, 10,000 square-foot industrial/flex warehouse located at for $3.4 million.  The buyer plans to renovate and occupy the facility. 

Adam Levin, Senior Managing Director of Levin Johnston, represented the seller, a private local investor, in the transaction.

“Our client initially acquired this asset for $2.7 million approximately 14 months ago,” says Levin. “By marketing the property widely and attracting multiple competitive offers, we were able to achieve a 26-percent value increase on the property for the seller, who ultimately sold the property for $3.4 million.”

The property is located at 524 East Brokhaw Road in San Jose, California.
  
CONTACTS:

Alex Caswell / Jenn Quader 
Brower Group
(949) 955-7940

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