San Jose Retail Center Sells for $7 Million, Fully Leased

A retail property in San Jose, California, known as Capital Commercial Center, has been sold for $7 million. The transaction, brokered by Marcus & Millichap, involved a partnership selling the asset to a California-based limited liability company. The sale price translates to approximately $485.19 per square foot for the 14,479-square-foot property.

Located at 175 S. Capitol Ave., the Capital Commercial Center was constructed in 1988 on a 1.1-acre site. It boasts full occupancy with nine tenants, all operating under triple-net leases. The average tenure for these tenants exceeds 11 years, indicating stable income generation.

Steve Sauter of Marcus & Millichap represented the selling partnership, while Bryan DiMesio and Scott Ferguson, also from Marcus & Millichap, facilitated the acquisition for the buyer. The new owner intends to maintain the property and capitalize on its existing contractual rent increases. This acquisition highlights continued investor interest in stable, income-producing retail assets in the San Jose market.