All Fab Sheet Metal Puts Manufacturing Building on the Market in San Jose Seeking $19MM

San Jose, All Fab Precision Sheet Metal, Colliers, Silicon Valley, 1015 Timothy Drive
Image courtesy of Colliers

By Jon Peterson

San Jose-based All Fab Precision Sheet Metal has placed on the market for sale the 59,857-square-foot manufacturing building it owns in San Jose located at 1015 Timothy Drive. The pricing guidance on the property is $19 million, or roughly $317 per square foot, according to sources familiar with the property’s marketing efforts.

The company is known as a firm that provides full and complete metal forming and manufacturing services, and it has owned the property for nearly two decades. The listing agent on the asset is the San Jose office of Colliers. One of the people working on the marketing efforts for the property is Steve Zamudio, an executive president with the firm.

All Fab Precision decided to put the property up for sale because the company is moving its business to a much larger location in order to grow its operation. The new property is the 132,721-square-foot building located at 1980 Senter Road in San Jose, where it signed a direct lease during the third quarter of last year. This move made the existing property on Timothy Road obsolete for the organization, and it is marketed as a vacant building.

“Given the current makeup of the property, I would think that the main interest in the property would come from another owner/use instead of an investment firm,” said Zamudio.

1015 Timothy Drive is a manufacturing building. The property went through a renovation in 2021, where more than $300,000 was spent by the current owner to put in a new roof and skylights. Around 4,000 square feet of the property consists of an office area, however, most of the building is open manufacturing space.

The asset also has around 3,000 square feet of a covered exterior area. The parking ratio for the building is 1.35 spaces per 1,000 square feet. The asset is fenced, and the lot is gated and secured. The property is on a corner lot totaling 2.57 acres and is in an area zoned for light manufacturing. Surrounding properties employ similar operations and the building’s proximity to US Highway 101 gives it flexible and abundant connectivity throughout the region.

The overall industrial market in San Jose remains strong. According to data compiled by Colliers, the vacancy in the market during the third quarter of 2022 was 1.8 percent. This was better than 2.6 percent from the previous quarter. These results show that the industrial property type is still in strong demand from tenants. The industrial market in San Jose now totals 25.4 million square feet.

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