Marcus & Millichap successfully facilitated the sale of a 1.1-acre ground lease at 3155 Stevens Creek in San Jose for $10 million. The transaction was completed privately, without being advertised on the market. The property had a long-term lease with Lincoln Auto Dealership.
According to Yuri Sergunin, first VP at Marcus & Millichap’s Palo Alto office, this location is highly desirable due to its close proximity to Valley Fair Mall and Santana Row – two of the top-performing shopping destinations in the country.
Sergunin and J.J. Taughinbaugh from Marcus & Millichap’s Palo Alto office represented the buyer – a tenant who owned improvements on the leased land.
