Newmark arranged the sale of Oakland Road Business Park, a 177,117-square-foot industrial and flex campus comprised of four buildings across 8.22 acres in North San Jose for an undisclosed amount. The buyer and seller were not disclosed. Steven Golubchik, executive vice chairman and president of Western Region capital markets; Edmund Najera, vice chairman; Jonathan Schaefler senior managing director; and Darren Hollak director facilitated the transaction.
Golubchik commented that “Oakland Road Business Park is a stabilized North San Jose asset with strong in-place cash flow as well as potential future upside through redevelopment of its sprawling eight acre campus” due to its existing mix of office and industrial users who have demonstrated commitment to the project making it a secure income producing asset. Located at 1580-1630 Old Oakland Rd., this 90% leased campus has nearly 100 tenants with an average tenure exceeding eight years providing stability for investors looking for long term returns on their investments..
