Coming Soon: Cupertino Office Condo For Sale

We are putting a commercial office condo on the market this week in Cupertino. Approximate details: 1,700 square feet, 10 years old, two story unit with interior staircase, Monta Vista area of Cupertino. Offered at $735,000.  For more details please call me direct at 415-269-6249.

San Jose Dental Office Condo for Sale with Equipment!

$450,000 for a fully equipped dental office commercial condo is for sale in San Jose.  This space was recently operated by a dentist who closed the office.  It is now available for sale at a very attractive price. If you are in the dental industry, it is evident how expensive it is to build out a dental office with plumbing,equipment and all the health regulations. Let us show you this stunning space for your practice.

Distressed Menlo Park Medical Office Condos for Sale

We are tracking a new construction development in Menlo Park built for commercial medical office condos which is in pre-foreclosure.  Excellent location and well constructed building for medical office users who want to own their own space.  The development has been on the market for a while and now the construction loan is nearing foreclosure status. This is a good opportunity for an owner-user or investor to own a very costly to replace asset in the mid-Peninsula.  Call us for details.

Office space for lease in Silicon Valley being snapped up

Office space in Silicon Valley is being snapped up, so is retail space. Some of it due to actual need for space, but most for future need & concern over others taking space and a looming space shortage.
Not so long ago (think Dot Com boom), companies were out of luck when looking for work space for their expansions. We were converting industrial warehouses into cube farms to make room. With the large leases of Facebook, Google, Apple and others - the rest of the valley is getting concerned that space may not be so readily available when the next tech wave hits. Already, we are seeing rents rise in compensation to leases being signed.
It's not an issue of whether $1.50 per foot office space is reasonable today, the real question is do you want to pay $2.50 per foot a few years from now - if that is even available.
Our office is located in Cupertino and the Apple expansion is very evident with them taking space in many of the Class A & B buildings in the city.  In our building, LAB 126 (Amazon) who designs the Kindle is in full expansion mode. The center of Silicon Valley is where everyone wants to be and needs to be.  So be prepared to compete for space in the heart of it all the innovation.

Bank Owned Commercial Office Condo For Sale in Mountain View

JUST LISTED:

3,600+ square foot commercial office condo for sale in Mountain View. Full office build out. 5 year old property. Property consists of two commercial condos (with separate parcel numbers)built out as one contiguous space. These units can be demised and sold or rented by themselves. Gorgeous commercial business park community.

Configuration as follows: 6 private perimeter offices with glass side panels and top windows, twelve 8x8 cubes, two ADA bathrooms, a server room, lobby entrance, large meeting/conference space and spacious kitchen.

Last comparable sales in the complex are over $220 per foot for simple shell condition space. This well designed and built out space is offered at $699,000 or $192 per foot.

If you run a business in the lower Peninsula or Silicon Valley - this will be a great deal for you. Commercial distress in this location is rare. The high quality of the property adds even more value. Call us for confidential details on this asset.

We expect to have this on the multiple listing services by August 28th.

The MPIRES Group works with banks, servicers and investors to bring commercial/investment opportunities to the market. If you are looking to invest in distressed commercial investment property, let MPIRES Group show you the way. www.mpires.com

San Jose Commercial Property for Sale - Willow Glen $699,900

Excellent owner user building in an excellent area of Willow Glen. Space has high ceilings and roll up doors. Full usable basement. Large lot with very flexible zoning area for redevelopment potential. Possible medical, dental use. Motivated seller - make an offer!

Bank Owned Commercial Condo at the gates of Silver Creek Valley Country Club

Cupertino New Construction Single Home & Professional Office

3 REO Bank Owned Office/Warehouses San Jose

1198 N 4th Street @ Hwy 880 - 12,650 square feet, on .46 acre fenced lot, space can be divided into 4 units. Approximately 50/50 office & warehouse in current configuration. Offered at $1,125,000.

6150 Hellyer #100, commercial condo, 6,093 square feet, built in 2006, shell interior, gorgeous commercial park at the south end of Silver Creek Valley County Club area. Amazing price per square foot for new product. Offered at $700,695.

1939 Monterey Hwy, three side by side commercial office condos. One is plumbed for 2 bathrooms. $295,000 for each unit. Very near The Plant retail mega-center.

These are three outstanding bank owned values in San Jose. Call us to tour.
Mario Pinedo, CCIM 415-269-6249

Short Sale Commercial Warehouse Condo for Sale Union City

Short Sale APPROVED on this 2,452 square foot commercial warehouse condo in a great location in Union City. Very convenient to highways 880, 92 and the Dumbarton Bridge. Offered at $399,000 - this is a great price per square foot for this building in excellent condition. Address is 33371 Croation Way, Union City, CA.

Commercial Retail Tenants Poorly Represented

It's a sad fact of the commercial real estate world that small retail users of space and for that matter also small office space users don't get good representation or they get none at all. Economics play a big factor in this. If a business owner needs 1,000 square feet of retail space for a new venture and he wants to have a 2 year lease at a rate of $1.50 per month, the compensation for the work is too small for the effort. A commercial leasing agent is looking at gross commissions in the range of $1,000-$2,000. Yes, that is not small potatoes. And yet, when compared to the work of finding the space (think no MLS, lots of sign calls, hitting commercial marketing meetings), setting up appointments to show the space (few small spaces with lockboxes, setting up appointments with landlord reps), a month of lease negotiation, attorney review time, city approval (heaven forbid a conditional use permit process), touring of architects and contractors, and then dealing with huge costs of starting up a business - that may dissuade the hopeful retail operator from actually signing the lease... I could go on and on... Many leasing agents don't see the economic benefit of allocating the time and effort. The realty then tends to be budding business entrepreneurs driving themselves around and calling on signs in the areas they think they should be. Many times not considering other areas that very well may support their business model better. Then calling landlord reps directly - who of course have their fiduciary duty to their main client - the landlord. The prospective tenant then signs whatever lease proposal hits the table. It's not equitable by any means. Solutions are grim - the best would be to hire a leasing agent - not by the commissions expected on a landlord sided fee offering - on a flat fee agreement sufficient enough to warrant the work. Few bootstrap business people want to fork out that kind of fee. OK - that's my gripe for the day - based on a commercial tenant who called me yesterday finally realizing the gravity of the lease document they signed years ago.

Absolute NNN or Ground Lease?

A majority of the single tenant NNN properties that are Ground Leases are marketed at a lower cap rate than traditional NNN leases. The (ir)rationale for this is that the tenant pays for all the improvements built upon the land and the LANDlord has no responsibilities. So, therefore, some would assume that the investment is more valuable and should therefore sell at a higher price/lower cap rate. I disagree...
What the landlord does not get in this scenario is the ability to depreciate the building - this value goes to the tenant. The shift of this financial benefit from landlord to tenant usually is very significant. And to pay a premium for this less-than situation is ridiculous. The far better alternative is the Absolute NNN lease. Whereby the tenant pays for absolutely all costs of the property and the landlord still has technical ownership of the improvements (building) so he can still depreciate the property.

Warehouse and fenced yard San Jose

Very good deal and excellent location for an industrial warehouse property with parking for trucks or equipment. $1,300,000 is the asking price for this freeway exposure property currently rented by an asphalt paving company. There is over 5,000 square feet of warehouse and dock space. Over 20,000 square foot lot. This parcel is right at the "clover leaf" of North 101 going to South 880. Perfect deal for a construction company that wants to own their own space.

Call me for a tour:

Mario Pinedo, CCIM
415-269-6249

Union City Pre-Foreclosure Warehouse Condo for Sale

2,452 square feet warehouse condo for sale at 33371 Croation Way, Union City, CA 94587
This is a short sale with financing from a conventional bank and the SBA (Small Business Administration). Seller is facing foreclosure. Looking for an interested buyer who can make an offer subject to obtaining bank and SBA short sale approval.
Ideally located near Hwys 92 and 880.
Call to tour this great property perfect for your business.

Commercial Office Building BANK REO San Jose

New bank REO in a great location of South San Jose near Silver Creek Valley Country Club and Hwys 101 and 85. 6,093 square foot stand alone office building, well built out with 7 perimeter offices, two conference rooms and a break room. Also approximately 60% of the space is open floor plan for cubes or lab/work space. 100% drop ceiling. 8.7 per thousand parking with reciprocal parking agreements. Built in 2006 in a complex of similar office buildings, this deal is very well priced. Offered at $175 per foot for almost new product or $1,066,275. Call me to tour this great opportunity.

Commercial Short Sales

The commercial short sale market is dramatically different than the residential short sale market. The commercial market is just starting to have negative issues, about a year after the residential market started to slide. What was normal a year ago in the residential market - banks not willing to negotiate short sales and being quick to foreclose - is the way commercial banks are acting now. They have yet to "get it" and will learn the hard way. I am dealing with a short sale in a commercial warehouse condo right now and the banks involved (a major bank and the Small Business Administration as a second lender) are not willing to consider a short sale until the borrower defaults for a few months. Foolish attitude. The residential lenders realized that this did not make sense about 6 months ago and the transactions started to flow. The commercial lenders will have to go through this learning curve too - hopefully not as long - we shall see...

Cheap Sublease Space Redwood Shores

Motivated tenant with lease through September 2009 offering 4,100 square feet of prime space near Oracle for sublease at $1.95 per foot full service. Downsizing software company can move right away. Landlord will also negotiate a direct lease from September. Market rate asking price is $2.95 per foot full service. Address is on Twin Dolphin Drive off of Holly.

Palo Alto Office Building For Sale 6.1% Cap Rate

This is a great opportunity to own your own office building in Palo Alto. The building is fully occupied by one tenant who then subleases about half of the property to another tenant. Great location on San Antonio within striking distance of Google, Yahoo or your favorite medical device customer. Offered at a 6.11% cap rate for Palo Alto is an outstanding return. Then when the leases expire, this could be a great re-rent or owner user building. Very impressive exterior and signage too. Call us to set up a tour or for a fully financing look at this property. Offered at $4,728,000 for 8,758 square feet on a 19,046 lot.

Small Business Administration Loans SBA

The Small Business Administration guaranteed loan programs are a great way for businesses to purchase real estate that they need. The most attractive aspect of the SBA is the low 10% down payment required. Also, the SBA loans are tied to the prime rate which right now is approaching historical lows. Banks are very willing to lend on SBA loans because their risk exposure is far less due to the guarantee provided by the SBA. Let me know if you want a great recommendation to an SBA loan agent.

Landmark Office Building for Sub-Lease in San Jose

Everyone knows the triangle building visible off of 280 at Stevens Creek & Lawrence Expressway. There is a good opportunity to sub-lease 14,645 square feet at an attractive $2.75 full service rate through January 31, 2010. An additional 16,777 square feet may also be available directly from the landlord. Great parking, great presence, great visibility to run your company. Call me to tour if you are interested in expanding.