{"id":1004512453,"date":"2021-02-02T04:49:21","date_gmt":"2021-02-02T12:49:21","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004508088"},"modified":"2021-05-15T10:09:33","modified_gmt":"2021-05-15T18:09:33","slug":"black-creek-pays-30m-for-san-jose-warehouse","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/black-creek-pays-30m-for-san-jose-warehouse\/","title":{"rendered":"Black Creek Pays $30M for San Jose Warehouse"},"content":{"rendered":"
\"\"<\/a>

652 N. King Road<\/p><\/div>\n

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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

The tenant roster includes logistics provider Guaranteed Express Inc., grocery supplier Fresh & Best Produce and printing company Progressive Solutions.<\/p>\n

Active buyer<\/h2>\n

Over the past year, Black Creek Group purchased several industrial assets nationwide. One of the largest transactions by sale price was the $109 million purchase of a 601,417-square-foot warehouse in San Diego, Calif. Morgan Stanley sold the asset after 15 years of ownership.<\/p>\n

In the greater Bay Area market, the company acquired the 241,591-square-foot Bay Area Commerce Center \u2013 Hawthorne in Livermore, Calif. Crow Holdings sold the facility for $48.5 million last August.<\/p>\n

In July, Black Creek paid $52.8 million<\/a> for a 190,377-square-foot industrial asset in Springfield, Va. Amazon takes up more than two-thirds of the space and Goodman Distribution occupies the remainder.<\/p>\n","protected":false},"excerpt":{"rendered":"

The property is under new ownership for the first time since 2011, when it was sold after a foreclosure action.<\/p>\n","protected":false},"author":867,"featured_media":1004518037,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,21742,36079,15],"tags":[38162,51003],"class_list":["post-1004512453","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-latest","category-san-jose","category-west","tag-black-creek-group","tag-east-west-bank"],"acf":[],"yoast_head":"\nBlack Creek Pays $30M for San Jose Warehouse - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/black-creek-pays-30m-for-san-jose-warehouse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Black Creek Pays $30M for San Jose Warehouse\" \/>\n<meta property=\"og:description\" content=\"The property is under new ownership for the first time since 2011, when it was sold after a foreclosure action.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/black-creek-pays-30m-for-san-jose-warehouse\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-02T12:49:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T18:09:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/650-N.-King-Road.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Pavel Cazacu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/black-creek-pays-30m-for-san-jose-warehouse\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/black-creek-pays-30m-for-san-jose-warehouse\/\",\"name\":\"Black Creek Pays $30M for San Jose Warehouse - 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