BKM Capital Partners announced the acquisition of Junction Business Park in Silicon Valley’s Golden Triangle market. The multitenant light industrial property, comprising 119,101 square feet in two San Jose, Calif., buildings, were sold for $31 million, or $260 per square foot.
Built in 1978, the asset is situated at 1911-1943 Hartog Dr. and 1914-1968 Junction Ave. in Silicon Valley’s logistics market. It houses 16 units ranging in size from 6,156 to 12,672 square feet, with office space accounting for just 30 percent of its net rentable area. The property features 16 grade-level and 14 dock-high loading doors, 16-foot clear heights and an above-average parking ratio.
“Although San Jose has seen significant industrial development in recent years, the availability of smaller, high-quality light industrial assets remains at a minimum,” said Brett Turner, senior managing director of acquisitions and dispositions at BKM. “Our certainty of close and solid financin
