Archives for November 2004

Ringwood Business Center Opens

Borelli Investment Company Opens Ringwood Business Center
Three-building 72,000 square foot complex features Silicon Valley’s smallest brand new business condominiums for office and industrial use—space is already 40% pre-sold

San Jose, California, November 4, 2004 — Borelli Investment Company, a long-time San Jose real estate company offering a range of services from commercial leasing and development to property management services and land sales, has opened Ringwood Business Center — a 72,200 square foot, three-building business condominium complex in North San Jose, designed for industrial, office, and R&D uses.

Ringwood offers the smallest newly built business spaces for sale or lease with the option to buy in Silicon Valley , with 47 condominium units ranging from 750 square feet to 3,500 square feet, according to Ralph Borelli, principal of Borelli Investment Company, which is developing the project.

“Ringwood provides smaller firms an opportunity to enjoy the advantages of property ownership,” Borelli said. “Most of these businesses have had no choice but to pay rent year after year — with nothing to show for it. Ringwood Business Center business condominiums allow business owners to build equity, while enjoying the tax benefits of property ownership.”

Located in International Business Park

The single-story complex is well located in North San Jose ’s International Business Park. Businesses have easy access to major transportation arteries such as I-680, I-880, and the Montague Expressway, and are less than five miles from San Jose International Airport. Ample parking exists on-site, with a ratio of four cars-per-thousand square feet of space. Minimum power for the industrial units is 200 amps @ 120/208 volts per unit; office units are supplied with a minimum of 100 amps of power.

“Interest in Ringwood has been so strong, that we are already 40 percent pre-sold,” Borelli commented. “We have an eclectic mix of owners — several professional firms, an electrical contractor, a machine shop, and even a dental lab. This reflects Silicon Valley ’s diversity and the need to serve clients wherever they are located.”

Prices at Ringwood Business Center start as low as $240,000, including the basic build-out of space. Borelli Investment Company will handle upgrades as needed. SBA financing — requiring only 10 percent down — is available through Mid-Peninsula Bank.

Ownership Advantages

Ringwood Business Center enables smaller businesses to take advantage of tax benefits to reduce the cost of buying.

“The combination of several of these tax benefits — IRC Section 179 deductions of up to $100,000, bonus first-year depreciation of as much as 50 percent, and an IRS-allowed accounting method known as cost segregation — can actually get some owners into their space on a tax-adjusted basis for free,” explained Borelli. “That’s a pretty rare opportunity these days.”

Borelli Investment Company also offers lease-to-own plans, which allow businesses to make purchase decisions months or years down the road, with a portion of the lease payments applied to the eventual down payment.

More information about the presale of business condominium space at Ringwood Business Center can be obtained by calling Borelli Investment Company at (408) 453-4700 and asking for Lynn Hawkins, or e-mailing lynn@borelli.com. A Broker Open House will be held on Thursday, November 18 from 11:30 a.m. to 1:30 p.m. at the business complex on Ringwood Court in San Jose.

Borelli Investment Company is one of the oldest commercial real estate firms in the Santa Clara Valley. The company provides a full range of commercial real estate services — from development and construction management to land sales and consulting for sales and leasing. More information about Borelli Investment Company’s services may be obtained by calling (408) 453-4700 or visiting www.borelli.com.

Contact: Ralph Borelli, CEO Borelli Investment Company 1770 Technology Dr. San Jose, CA 95110 Ph: 408.453.4700 Fax: 408.453.4636 E-mail: ralph@borelli.com http://www.borelli.com