This Office Property is Off-Market.

80 Great Oaks Blvd
San Jose, CA 95119 ·

71,830 SF · Office For Sale

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VA OUTPATIENT CLINIC

Price N/A Cap Rate 8.43%
Building Size 71,830 SF Occupancy 100%
Property Type Office Tenancy Single
Property Sub-type Institutional/Governmental Year Built 1996
Property Use Type Investment Lot Size 5.35 AC
Commission Split 1.75%
Listing ID: 16344006 Date Created: 08/05/2009 Last Updated: 07/01/2010

Description

Partnership Dissolution! Owners in negotiation for early 5-year extension of lease. Pricing is based on obtaining extension. The property is a "build to suit" Medical Clinic for the Veterans Administration. The lease was a 15 year lease and the primary term expires on 9/4/2011. The VA has a five year option at below market rent. THE SELLER WILL CREDIT THE BUYER $932.500 AT CLOSING TO MAKE UP RENTAL SHORTFALL DURING THE LAST 2 YEARS OF THE OPTION PERIOD.

The 2,312-acre Edenvale Technology Park houses more than 300 companies and 13,000 workers operating in more than 12 million square feet of R&D, office and manufacturing space. Since 1977, the San Jose Redevelopment Agency has invested more than $90 million for infrastructure improvements that support the operations of Edenvales corporate community, including improvements to Highway 85, local streets and intersections, and upgrades to utilities and sanitary storm sewers. The industrial area offers a reverse commute and is accessible by Route 85 and Highway 101, the light rail transit system and Caltrain. Several retail and restaurant options, as well as affordable housing, are available within a one-mile radius of the technology park. Less than 2 miles to Santa Teresa Community Hospital.

Highlights

  • Veteran's Administration Outpatient Clinic
  • Price Based on Early Extension of Lease for 5 Yrs
  • Excellent Silicon Valley Location
  • Well Maintained Building
  • SELLER RENT CREDIT FOR OPTION RENT REDUCTION

Research

80 Great Oaks Blvd, San Jose, CA 95119 (Santa Clara County)

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