Borelli Investment Company

An 11.6-acre site on the east side of San Jose’s popping Santana Row shopping center is being brought to market for the first time in more than 40 years. The Winchester family, which also owns the Winchester Mystery House next door, is offering the site unpriced as a redevelopment opportunity under a 50-year ground lease. Three of the signature, mushroom-capped movie houses owned and operated by Century Theatres throughout Silicon Valley and a sea of surface parking currently occupy the site. The property is zoned for immediate development of 500,000 square feet of offices and retail space … [Read more...]

New York City-based Deutsche Asset & Wealth Management, formerly known as RREEF Real Estate, expects to achieve an initial yield of 6 percent on the 431,490 square-foot Oakmead West buildings in Sunnyvale that it has acquired from Equity Office. Deutsche Asset paid $275.7 a square foot in an all-cash transaction, according to industry sources with first-person knowledge of the exchange. The acquisition is one of three that the real estate manager has made on behalf of three institutional investors for $266 million total. The other two properties are an 89,074-square-foot … [Read more...]