Cassidy Turley BT Commercial Investment Division - Significant Deals - February 4, 2010

Investment Services Group, Leased Investment Group and Multi-Family Group

Published on February 04, 2010


Newly Built Walgreens Property Sells for Over $5 Million in Southwest
February 4, 2010 – Rick Sanner, Bob Sanner and Tom McMullan with Cassidy Turley BT Commercial’s Leased Investment Group based in the firm’s San Francisco office represented the seller in the sale of a 16,510 square foot single-tenant retail building in the southwest for $5,032,679 ($305 per square foot). The property was constructed in 2009 and is fully leased to Walgreens.

Fully Occupied San Mateo Apartment Building Sells for $1.65 Million; First Time on Market in Over 30 Years
February 4, 2010 – Jocelyn Jamias with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Palo Alto office has represented the buyer in the acquisition of an eight-unit apartment building in San Mateo for $1,655,000, equating to a price of $206,875 per unit. The complex was 100% occupied at time of sale. The two-story building is located at 3235 Glendora Drive and is composed of six (6) large 1-bed/1-bath units and two (2) spacious 2-bed/2-bath units. It is situated very near the intersection of Highway 92 and West Hillsdale Boulevard in an excellent west side Laurelwood hills location. This was the first time the property had been brought to market for sale in over 30 years.

8-Unit Multi-Family Property in West San Jose Goes for Even $1 Million
February 4, 2010 – Justin Bautista with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Palo Alto office has brokered the sale of an eight-unit multi-family complex in west San Jose for an even $1,000,000, equating to $125,000 per unit. Bautista represented the buyer, Bruce Deremer. The seller was Tito Godofreda and Shally Martinez. The property is located at 1207 Leigh Avenue and is composed of six (6) 1-bed/1-bath units and two (2) 2-bed/1-bath townhome units. The location is less than one mile from the intersection of Hamilton and Bascom Avenues and is close proximity to freeways 280, 880 and 17.

Jiffy Lube Property Sold for Over $900K in Western U.S.
February 4, 2010 – Scott Kilpatrick with Cassidy Turley BT Commercial’s Palo Alto office has represented the buyer, Matusch Family, in the purchase of 2,500-square-foot freestanding property fully leased to Jiffy Lube located in the western United States. The property sold for $917,000, equating to a price of $367 per square foot. The seller was Sungwon, Soonh Park.

4-Unit Townhome Apartment Building Sold in Milpitas
February 4, 2010 – Brian Henry with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Palo Alto office has brokered the sale of a 5,000-square-foot four-unit apartment building in Milpitas for $680,000, or $170,000 per unit. Henry represented both the seller and the buyer. The property is located at 1302 Daniel Court, one block from Interstate 680 on-and-off ramps at Jacklin Road. It is composed of three (3) 2-bed/2-bath townhome units and one (1) 3-bed/2-bath townhome unit. Each unit has a private garage and large individual backyards.

Deutsche Bank Sells 4-Unit Apartment Building in Hayward
February 4, 2010 – Patrick Conkin with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Palo Alto office has represented buyer Jason Hughes in the acquisition of a four-unit bank-owned apartment building located on Tyrell Avenue in Hayward. The property consists of all four (4) 2-bed/1-bath units. The seller of the property was Deutsche Bank.

14-Unit Bank-Owned Apartment Building Sells in Heart of Sacramento
February 4, 2010 – Dylan Herrick and Amar Cheema with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Sacramento office have brokered the sale of a 14-unit bank-owned apartment building in Sacramento. Herrick and Cheema represented the seller, AB Chestnut, Inc. The buyer was Ann Nguyen. The 8,488-square-foot two-story building is located at 6300 Martin Luther King Jr. Boulevard within one mile of the Interstate 80 and Highway 50 interchange, in the heart of Sacramento. It consists of ten (10) 1-bed/1-bath units and four (4) 2-bed/2-bath units.

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