755 Jarvis

755 Jarvis Drive, Morgan Hill, CA (Silicon Valley)
Project Description:240,000 square foot R&D/Manufacturing building purchased from corporate user. Built in 1997. High quality improvements and large 30 foot clear height areas. Also included 8 acre of undeveloped land parcel.
Challenge:Perform market-ready enhancements, conduct highly active and technologically advanced marketing campaign to lease or sell to user.
Results:Sold to a Silicon Valley-based retailer for their new HQ and distribution facility. 2X ROI.
Details:Commencement Date: Purchased May 2012 for $5.7 million.
Completion Date: August 2012.
Current Status: Sold May 2013 for $12.0 million.
Total Value:$12 million.