Borelli Investment Company Announces Junction Office Center in San JosePrime location in Silicon Valley’s Golden Triangle affords smaller businesses
the opportunity to purchase office condominiums as small as
750 square feet — to enjoy the benefits of ownership, rather than leasing space.
San Jose, Calif., October 10, 2005 — Borelli Investment Company, has announced Junction Office Center, a two-building, 77,000 square foot office condominium complex at 2051-2055 Junction Avenue near Charcot in San Jose. At Junction Office Center, small to medium-sized businesses can purchase — not lease — office condominiums ranging in size from 750 to 3,000 square feet, and enjoy all the tax benefits and potential long-term appreciation usually available only to businesses capable of purchasing an entire building.
“Many owners of smaller businesses don’t realize there’s an alternative to leasing,” said Ralph Borelli, president of Borelli Investment Company, which is developing the Junction Office Center project. “Business condominiums are similar to residential condominiums in that owners buy space rather than lease it. This provides a business all the benefits of real estate ownership: depreciation, interest write-offs, and other tax deductions — in addition to prospective appreciation over time.”
Located in San Jose’s Golden Triangle
Junction Office Center is located in the heart of the technology-rich Golden Triangle — formed by the intersections of I-880, Hwy 101, and Hwy 237. A number of major corporate campuses for technology leaders are nearby, and the location offers ready access via major transportation arteries to work with clients virtually anywhere in Silicon Valley. The complex is also only a few minutes from Mineta San Jose International Airport, and is close to the VTA light rail station on North First Street for easy commutes that avoid high gas prices.
For those who drive, there’s ample parking exists for employees and clients alike, 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. In addition, a large delicatessen planned for the office center will enable business owners to hold working lunches without leaving Junction.
“The location is on the edge of an area defined in Vision North San Jose — an ambitious land use plan that targets development along the North First Street transportation corridor,” Borelli remarked. “Junction Office Center puts owners in a prime location to benefit from this long-term growth blueprint.”
Professional-Quality Office Space
Borelli Investment Company is investing more than $15 million in the two-story office buildings set around a central open courtyard. Awning-covered entrances and formal lobbies with polished granite floors and high ceilings create a good first impression on visitors. Each of the 52 suites is fully carpeted and has its own coffee bar, which includes a sink and cabinets. Suites also have individual controls for heating and air conditioning, are separately metered for electrical usage, and have access to the building’s T1 fiber optic cable for high-speed Internet access and file exchange.
The sweeping renovation of the two buildings includes large, multi-stalled restrooms with showers on the first floor — perfect for joggers or bicyclists — a full seismic retrofit, upgraded elevators, ADA improvements, a new roof, and extensive landscaping.
“We’ve also completely refurbished a large common conference room with Web-based videoconferencing, PowerPoint capabilities, audioconferencing, a state-of-the-art video system, and Web access,” noted Borelli. “This is a great environment for getting business done.”
Junction Office Center enables smaller businesses to take advantage of special tax benefits to reduce the cost of buying.
“IRC Section 179 deductions allow business owners to write off up to $105,000 in bonus first-year depreciation, and a widely accepted accounting method known as cost segregation can accelerate depreciation on a substantial portion of an owner’s property,” Borelli explained. “These deductions, plus SBA financing — which requires only a 10 percent down payment — make this a very attractive opportunity.”
Interested businesses can obtain more information about Junction Office Center by calling Borelli Investment Company at (408) 453-4700 and asking for Larry Bengiveno, or e-mailing firstname.lastname@example.org.