Black Creek Pays $30M for San Jose Warehouse
The property is under new ownership for the first time since 2011, when it was sold after a foreclosure action.
February 2, 2021 | Pavel Cazacu | Commercial Property Executive
Orton Development has completed the $29.5 million disposition of a 117,442-square-foot industrial complex in San Jose, Calif. Black Creek Group acquired the warehouse, according to Santa Clara County records.
The asset previously changed hands in September 2011 for $4.3 million, CommercialEdge data shows. The seller was East-West Bank, which came to own the park after it foreclosed on a $6.3 million loan taken out by a private investor, per public records.
Located at 464, 650 and 652 N. King Road on 11 acres, the asset is 5 miles east of San Jose International Airport and within 2 miles of interstates 680 and 880 and the Bayshore Freeway. The property comprises three buildings completed in 1966 and renovated in 2000 and 2013. The warehouses have an office build-out of 22.7 percent, a total of 13 grade-level doors, 14-foot clear heights and HVAC systems for climate control.
