Archives for November 2005

Borelli Investment Company Completes Phase I of Junction Office Center

Borelli Investment Company Completes Phase I of Junction Office Center

Prime Golden Triangle location and smaller office condominium sizes create
significant sales activity prior to Thursday’s official opening.

San Jose, Calif., November 14, 2005 — Borelli Investment Company has completed renovation and is reporting brisk sales activity at the first phase of Junction Office Center, a two-building, 77,000 square foot office condominium complex at 2051-2055 Junction Avenue near Charcot in San Jose.  With the complex’s official opening this Thursday, November 17th, the first of the two buildings (2051 Junction Avenue) already has 36 percent of the units in escrow or with offers pending.  Renovation of the second phase of the office condominium complex will begin immediately.

“More and more, owners of small to medium-sized business are discovering the tremendous advantages of owning their own business property,” said Ralph Borelli, president of Borelli Investment Company.  “Junction Office Center condominiums range in size from as small as 750 square feet to 3,000 square feet-putting them within the reach of virtually every business. With a range of tax benefits, accelerated depreciation through an accounting method called cost segregation, interest write-offs, and SBA financing that only requires ten percent down-a buyer or investor can conceivably get into his or her own space with very little after-tax expense.”

A New Vision for North San Jose

Located in the heart of the Golden Triangle—formed by the intersections of I-880, Hwy 101, and Hwy 237—Junction Office Center also gives buyers an entrée into an area likely to see increased activity due to San Jose’s Vision North San Jose plan. Vision North San Jose calls for a sweeping transformation of the North First Street transportation corridor and surrounding technology parks, creating a mosaic of new office and industrial, retail, and residential development.

The plan envisions an exciting, diverse urban village linked by existing and future mass transit, including:

  • 26.7 million square feet of new office and R&D space
  • 32,000 new high-density residential and single-family homes in close proximity to jobs
  • 1.7 million square feet of supporting retail space
  • $520 million in transportation improvements
  • Parks and open spaces, public safety services, educational facilities

 

Junction Office Center is a short drive from Mineta San Jose International Airport, and offers easy access to I-880 and Hwy 101 to reduce employee commutes.  The complex provides ample parking, with a ratio of 5.3 cars-per-thousand square feet of space. On-site services include UPS, FedEx, and US Postal Service drop boxes, and a delicatessen planned for the office center.

“Junction Office Center’s location puts owners on the leading edge of the renewal planned for North San Jose,” Borelli explained. “Because office condominiums enable owners to enjoy potential long-term appreciation in value, this is an ideal opportunity.”

$15 Million Renovation

Junction Office Center is undergoing an extensive makeover, with Borelli Investment Company investing more than $15 million in the two two-story buildings set around an open courtyard. Exterior improvements include awning-covered entrances and extensive landscaping. Formal lobbies with polished granite floors and high ceilings add to the professional touches. The 52 individual suites in both phases will be fully carpeted with a complete coffee bar, have separately metered electrical, and offer T1 access for high-speed Internet and file exchange.

The buildings also include upgraded restrooms with showers, state-of-the-art water-source,  heat pump HVAC systems for superior heating and cooling; seismic improvements; faster elevators; and a new roof. In addition, a common conference room for the complex features Web-based videoconferencing, PowerPoint capabilities, audioconferencing, a state-of-the-art video system, and Web access.

“Business condominiums are one of the hottest trends in commercial real estate today,” noted Borelli. “As more owners discover business condominiums, the market is going to get even hotter. This is a great time to make a purchase before prices rise any further.”

For more information about Junction Office Center—including materials that illustrate the advantages of business property ownership and explain the benefits of cost segregation—business people should call Larry Bengiveno at Borelli Investment Company at (408) 453-4700, or e-mail larry@borelli.com. Businesses can also visit the web site at www.junctionofficecondos.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