Downtown San Jose Site Sells for $15MM to Opportunity Zone Fund

San Jose, CA (July 16, 2019) – SVN First Guardian Group’s Erik Carlson and Amit Urban brokered the sale of the Bo Town site to Urban Catalyst in San Jose, CA. 

Erik Carlson and Amit Urban arranged the sale of three unentitled parcels, located between 409-425 S 2nd Street in Downtown San Jose, for a combined value of $15 million. The brokerage team represented the seller, a private owner, in the sale which produced multiple offers ultimately selecting Urban Catalyst, a local opportunity zone fund based in San Jose as the buyer. Per recent reported news articles, selected buyer assigned the contract to WeWork and Gary Dillabough’s team 

The combined parcels totaled approximately 33,000 square feet of land ideally located in the Downtown Core zoning designation and within the desired South of Market Area (SOFA). The site is centrally located in Downtown San Jose walking distance to San Jose State University, Diridon Station, the Convention Center, and many restaurant and night-life activities. The site is adjacent to previously sold land, commonly known as the Valley Title site, which may add to the redevelopment potential of the immediate area. The site will benefit from San Jose’s growing downtown as many employers such as Google and Adobe expand in the area. 

Erik Carlson and Amit Urban are one of the leading commercial brokerage teams specializing in development and multifamily investment opportunities in the South Bay. Earlier this year, they brokered several development deals in Silicon Valley, including 1530-1536 W San Carlos St, which broke the record for price per square foot for Urban Village designated parcels for 2019. 

For more information, please reach out to Erik Carlson or Amit Urban. 

About First Guardian Group (FGG) 

First Guardian Group affiliated with Sperry Van Ness (SVN) in 2011. Founded in 1987, SVN is one of the largest and fastest-growing commercial real estate brokerage firms in the industry, with more than 1,600 advisors in over 150 locations nationwide. SVN is unique among larger commercial brokerage firm by cooperating and splitting fees with all other brokerage firms resulting in more and higher offers for its listed properties. See this video to better understand our special approach to marketing properties: http://www.svn.com/difference

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