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Commercial Real Estate News for Silicon Valley

San Francisco, California – NNN Commercial Real Estate News is from the Bay Area of California. Our NNN Commercial Real Estate investors have searching for multi-use property and Industrial property that has long term net leases. We want to report commercial real estate news that the Matteson Companies acquired a multi-use industrial property in Santa Clara, California. The Matteson Companies purchased the flex building that is located at 5200 Patrick Henry Drive. The commercial real estate sellers were The Praedium Group LLC and South Bay Development Company. These Commercial Real Estate sellers received $20 million for the property, or approximately $223 per square foot (psf).

The JV (joint venture) of The Praedium Group LLC and South Bay Development Company purchased what was a vacant commercial property back in 2007. The NNN Commercial Real Estate Joint Venture worked diligently to find a net lease Tenant. The net lease Tenant who took the property lease was Coherent Incorporated. Coherent Incorporated is a laser optics company. Also, Coherent Inc. owns the commercial real estate that is adjacent to this property. Coherent Inc. uses the adjacent commercial real estate development as their global headquarters.

The Joint Venture did quite a bit of renovations for the net lease Tenant, Coherent Incorporated. The Praedium Group LLC and South Bay Development Company completed the commercial property that is approximately 90,126 square feet to appease the specifications of their net lease Tenant. Coherent, Inc. is on a long-term net lease and occupy 100% of the commercial property. This commercial real estate development received over $5 million in various renovations and upgrades within the past few years. This commercial real estate development has over 270 parking spaces on this Bay Area parcel that is approximately 5.6 acres. The Silicon Valley corridor is an excellent location for Retail Shopping Centers and triple net lease properties for investments.

Santa Clara was founded in 1777 and incorporated in 1852. It is a city in the aptly named Santa Clara County. Santa Clara is located in the center of Silicon Valley as it is right next to San Jose and close to San Francisco. Santa Clara is the home to the headquarters some monster companies, including Intel, Applied Materials, Sun Microsystems, NVIDIA, Agilent Technologies, Yahoo, and many more high-tech companies. The industrial commercial real estate development has offices and was constructed in 1980. This commercial property is situated in the Marriott Business Park. At this time we do not have information on any Commercial Loans on the commercial real estate development.

The Matteson Companies are a group of affiliated entities that are involved in commercial real estate investment, commercial real estate development and management. Redwood City-based Matteson Companies bought this industrial property on behalf of a group of private investors. The Matteson Companies is headquartered on the San Francisco Peninsula with operations in diverse western United States markets. Matteson Companies started in 1964, when Duncan L.Matteson began purchasing, developing, and managing valuable Bay Area commercial real estate. Since then, the companies have developed a full-service operating platform to provide private and institutional investors with high quality service and investment performance.

This recent commercial property acquisition of the a single-tenant building with office and research and development space is just one of many properties in their portfolio. The Matteson Companies possess the capability to acquire land for development, commercial property acquisitions, and value-added property management. The Matteson Companies are very active in the West with more than $1.5 billion in properties under management. The Matteson Companies’ Investment Property portfolio includes multi-family apartments, office, retail net leased properties and mixed-use properties. The properties are located throughout the western U.S., in California, Nevada, Arizona, Oregon and Washington, with particular emphasis on California and the Bay area.

Also for commercial real estate investors in a 1031 exchange, you can search Net Lease Properties  to purchase.