Borelli Enters Strategic Alliance with GD Commercial Real Estate
GD Commercial named the exclusive broker to the Asian marketplace for
hot business condominium category.
San Jose, Calif., July 6, 2006 — Borelli Investment Company, a long-time leader in commercial real estate services and a pioneer in the development of business condominiums in Silicon Valley, has announced that it has entered a strategic alliance with GD Commercial Real Estate to market its business condominium projects to the Asian marketplace. The exclusive marketing agreement with GD Commercial covers two current Borelli business condominium projects — AirTech Office Condominiums, at 1754 Technology Drive in San Jose, and Junction Office Center, at 2051–2055 Junction Avenue in San Jose.
“Business condominiums have been a very hot category in Silicon Valley for several years,” said Ralph N. Borelli, chief executive officer of Borelli Investment Company. “The Asian community has shown a strong interest in our product from the beginning. We decided it was time to formalize our marketing efforts to this community, and when we were searching for a strong partner that knew the market, the GD Commercial name kept coming up.”
Borelli Investment Company and GD Commercial will work together to develop collateral material, web sites, and advertising in several Asian languages for Borelli’s existing business condominium projects. GD Commercial has well-established contacts not only in the Bay Area, but also with business owners and investors in China and other Asian countries, who want to open operations in the U.S.
“There is a significant amount of interest in China right now in expanding to dynamic U.S. markets such as Silicon Valley,” explained John Luk, executive managing director of GD Commercial. “We have established relationships both here and overseas that we think can work to both Borelli’s and our benefit. Borelli develops high-quality business condominiums, available in spaces as small as 750 square feet. That makes its properties very marketable.”
AirTech Office Condominiums is a two-story garden office building with 40 office condos totaling 55,870 square feet. Borelli invested $3 million in the conversion and upgrade. Amenities include high-speed Internet access, a common conference room with large video screen, individual heating and air conditioning controls, full carpeting, and coffee bars in each suite. Down payments start as low as $41,000 — with only four suites left to sell.
Junction Office Center is a two-building, two-story office complex in North San Jose’s Golden Triangle. The 77,404 square feet of space is divided into 52 offices. Tenants and visitors enter through formal lobbies with polished granite floors and high ceilings. Amenities include carpeting and coffee bars in each unit, a common conference room with large-screen video, T1 fiber optic cable for high-speed Internet access, and showers in the bathrooms to use after a run or bike ride. Borelli invested nearly $10 million in the Junction conversion. Down payments start as low as $27,900.
“With rents beginning to rise, ownership makes a lot of sense now for businesses or professional practices of any size,” Borelli remarked. “Owners can lock in occupancy costs, and enjoy tremendous tax advantages and the potential for long-term appreciation. It really doesn’t make sense to lease if you can own.”
“We look forward to working with Borelli to market these two outstanding projects, and then continue to explore other projects in the future that provide mutual benefits,” Luk added.
Borelli Investment Company is one of the oldest commercial real estate firms in the Santa Clara Valley, with more than 50 years of experience. 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.
GD Commercial is a leading, partner-owned US commercial real estate company comprised of real estate professionals including licensed brokers, financial analysts, research professionals, and marketing specialists. The company’s range of services includes office, industrial and retail leasing; tenant representation services; property acquisitions and dispositions; corporate advisory services; mortgage financing; and consulting and research. Visit www.gdcommercial.com or call (800) 939-8168.
Contact: Ralph Borelli, CEO Borelli Investment Company 1770 Technology Dr. San Jose, CA 95110 Ph: 408.453.4700 Fax: 408.453.4636 E-mail: firstname.lastname@example.org