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| 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:
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| 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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