Dermody Properties Acquires 111,043 SF Class-A Industrial Building in Silicon Valley for $16.75MM

Dermody Properties, San Jose, Silicon Valley Industrial Center , Bay Area, Silicon Valley, East Bay

Dermody Properties, San Jose, Silicon Valley Industrial Center , Bay Area, Silicon Valley, East Bay

(EDITOR’S NOTE: According to public documents, the transaction closed mid-April 2017 for $16,750,000.)

SAN JOSE, Calif. – Dermody Properties, a national real estate investment, development and management company headquartered in Reno, Nevada and specializing in acquisitions and development of industrial real estate in strategic locations across the United States, recently acquired the 111,043 SF Silicon Valley Industrial Center from a private investor. Located at 6212 Hellyer Ave. in San Jose, California, the Silicon Valley Industrial Center is one of the only Class-A industrial buildings currently available in the Silicon Valley. Currently vacant, the entire property is available for lease.

“Dermody Properties is very pleased to add the Silicon Valley Industrial Center to our portfolio as we further expand our services in this region’s ever-growing industrial community,” said Douglas A. Kiersey, President, Dermody Properties. “This is one of the only available Class-A buildings in the Silicon Valley and we are happy to now offer this best-in-class building to the booming Silicon Valley and East Bay areas.”

This 111,043 SF building sits on a 5.9 acre parcel and can accommodate up to two tenants. The building features a 32-foot clear height, has 15 dock doors, two grade level doors, 2,500 amps of electricity and 126 parking spaces.

“Jason Ovadia at JLL presented us with the opportunity to purchase the property and we didn’t hesitate to pursue the off market acquisition. It’s a great fit for our new portfolio of buildings in Northern California. We now have buildings in Lathrop, Hayward, Fremont and San Jose,” said George Condon, West Region Partner, Dermody Properties.

“This is a strategic purchase for Dermody Properties, with excellent proximity to labor and the San Jose metropolitan region, in an industrial supply constrained market,” said Jason Ovadia, broker for JLL who handled the sale of the property. “The headquarters for many of the largest and most successful tech companies in the world call the Silicon Valley home. And 75 percent of all Fortune 500 companies headquartered in the Silicon Valley are within 15 miles of downtown San Jose which places this property in an ideal location.”

Jason Ovadia, Greg Matter and Mark Bodie of JLL were retained by Dermody Properties to market the Silicon Valley Industrial Center for lease.

The Silicon Valley Industrial Center is located approximately 10 miles south of the Highway 101 and Interstate 880 junction offering ideal proximity for businesses serving customers in the Silicon Valley area and East Bay.

About Dermody Properties
Dermody Properties is a privately owned industrial real estate investment, development and management firm that specializes in acquisitions and development of industrial real estate in strategic locations for e-commerce fulfillment centers, third party logistics and distribution customers. Founded in 1960, Dermody Properties has invested in more than 70 million square feet of industrial space. To learn more about Dermody Properties visit Dermody.com.

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