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.

Commercial Real Esate San Jose

The commercial real estate market in Silicon Valley / San Jose is healthy - in parts.  We at the MPIRES group are working with retail tenants looking for space, office users, landlords leasing commercial properties and investors looking to buy retail, office and multi-family properties.  Overall, the San Jose metro is far healthier than the rest of California or the nation.

In core retail areas with good demographics, retailers are looking to occupy spaces to engage with the household incomes that surround the buildings.  Office users such as the many high tech companies that built the valley are looking to take space for future or immediate expansions.  Companies that support or are off-shoots of the big players (Apple, HP, Cisco, etc) are also looking to take space near their suppliers and customers.

Residential rents are up for a variety of factors (the rash of foreclosures, lack of good first time home buyer financing and an influx of new hires into the area).  This makes valuations on apartment buildings not very attractive to investors.  But they are great cash flow vehicles for the existing landlords.  Though, there are some very good opportunities in single unit rentals up to 4plex properties.

The commercial real estate market in Silicon Valley / San Jose has had its movements over the last few years.  We are here to guide you in whatever goal you want to achieve.

Church Property for Sale San Jose

One of the most difficult properties to find in Silicon Valley is a facility that will have all the requirements for a church or place of assembly.  There currently are a couple properties that are available with the right parking, zoning, location and size to fit the needs of a congregation.
One property is 25,000+ square feet, with 4/1,000 parking ratio for $3.3M in San Jose.  These opportunities come once in a blue moon.  For more info, please contact us to tour this potential church property in San Jose.

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.

San Jose Silver Creek Office Space for Lease

KW Commercial Cupertino just listed 4,400 square feet for lease of free standing office space at 6140 Hellyer Avenue in San Jose's Silver Creek area.  Fully built out as offices with the following amenities:

8 private offices
6 cubes
Large conference room
Kitchen
Server room
Lots of furniture included!

All of this for $1.00 per foot Modified Gross lease. This space is very well upgraded and high end. Call us to tour.

Bank Owned Commercial Condo for Sale San Mateo County

We are tracking a commercial condo coming for sale on the Peninsula in San Mateo County. This property will soon be bank owned.  It is over 3,000 square feet, mostly warehouse space in an industrial park in north San Mateo county.

This property would be ideal for an owner user who has an industrial use business to serve San Francisco and the Peninsula. Call us for details 415-269-6249.

Single tenant NNN investments, Ecuadorian dwarfs & DaVita Dialysis Centers

What do DaVita Dialysis Centers, a tribe of diminutive people in South America and your 1031 exchange into a single tenant NNN property have in common?

Let me start with this, do you remember buying your plane ticket at your local retail center where your trusted travel agent was located? Yes, it's been a while, perhaps some 15 years since they dominated the landscape of retail spaces. Now, you don't go buy a paper ticket next to the Starbucks, you buy it on your laptop at the Starbucks.

Do you remember the more recent local Blockbuster Video store or Hollywood Video store where you walked in a few times per week to rent your VHS (ok, that's too far back, insert DVD for you youngsters). Now on-demand video and Hulu reign supreme.

Were you at the Howard Hughes Center mall last night in the Border's book store which is having a store closing sale? Why this travesty? Think Amazon, Kindle and Ipad magazine e-scriptions.

Ok Mario, what's the theme here? maybe... Technology kills things!

...and it kills things in relation to your commercial real estate investment.

One of the hot single tenant NNN property classes for sale are the dialysis centers that are popping up all over the map - think DaVita Dialysis as the Kleenex in this category. Hundreds of new DaVita centers are being built in local neighborhoods to service the needs of patients with poorly functioning kidneys typically an effect of long term diabetes disease. The investment concept around the sale of these NNN investments is that the centers will be well frequented by their base of committed customers for decades on out.

I was explaining my understanding of this to my muse Julie this morning in the car and she recalled Ecuadorian dwarfs in South America. (please hang on, there is a circular connection coming soon)

Apparently in the last few days, an article was posted about this tribe in the Andes where the genetic make up of the tribe makes cancer and diabetes virtually non-existent. So, the medical research world has invaded the little tribe to find the medical fountain of youth (or at least the fountain of anti-carcinogen) When (not if) this gene is isolated and when the drug company gets FDA approval, some of these ailments will be eliminated or reduced.

I may be overly focused on my favorite group of people - the commercial investors out there - and my concern is that there may be empty DaVita Dialysis centers on the landscape one day in the future - or at least some renegotiated leases because their business will slide.

Therefore, as a suggestion for your next real estate investment move, stay clear of over-valued NNN deals that may not be the hot investment vehicle of the near future. Instead, consider the basics of coffee, the local Burger King and my favorite - Taco Bell - as a healthy investment alternative. In my opinion, as healthy or not as we seem to be becoming, the US appetite will always crave the Whopper.

New Bank Owned Deals in San Leandro and Hayward

Coming to market soon:

Bank owned, 4,100 square foot new retail building in shell condition on major thoroughfare in San Leandro. Perfect owner user or investor building with multiple doors for various tenant spaces. Good parking with two street entrances. $649,000.

Bank owned, 10 acre parcel in the Hayward hills for 18 home subdivision new home development. Outstanding area amidst other high end home developments. Views from some of the lot locations. Call me for an update on the tentative map approval process which is underway. Price depending on an as-is purchase or after map approval.

Bay Area Investment Real Estate - Mario Pinedo, CCIM Investment Update O...

Investment Property update for Silicon Valley. Single family home sales and commercial investment opportunities from www.MPIRES.com and Intero Real Estate.

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

Commercial REO & Non-Performing Note Sales

The commercial real estate bank owned opportunities will not materialize as did the residential REO market of the last couple years. Most commercial banks have taken a completely different strategy to reducing their bad debt. Few commercial banks are even starting the foreclosure process because they do not want the bad commercial assets on their books. This necessitates increasing cash reserves to offset the bad debt. In lieu of this, the banks would rather sell their non-performing notes to investors, who then can foreclose on the properties without incurring FDIC triggers.

The commercial distressed property opportunities will be even more attractive to investors than the residential deals were. The challenge is how to participate in these opportunities.

My partner, Julie Duong and I have the solution. We are pairing investors with banks to facilitate these transactions. Call us for a consultation so that we can deliver to you the best deals available.

Commercial Office Property Condo Mountain View Short Sale - Non Performing Note Sale

We have an exclusive opportunity to purchase a non performing note on a commercial office condo in a great park in Mountain View. Approximately 3,650 square feet, 5 year old property, well built out 100% office space, great value in the mid $100s per foot. Great deal for an owner-user in a park that is convenient to 237, the mid Peninsula and south to Silicon Valley.

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 office condos

If you are looking to own office space for business use, this is a very good time to be shopping. As was the perfect storm for residential condos that were built in the last 5 years, the same is true of the commercial office condos that were built at the same time. A lot of new product came on line in the last few years - essentially commercial developers created a new type of office building, parceled out to sell as condos. This was a great concept to provide new office space in small sizes so that businesses could buy their own space. The problem was timing. Some of these developments hit the market at $400-$500 per foot. Now developments in Santa Clara county are selling for the $100-$200 per foot range. We are tracking very good deals in Fremont, San Jose, Sunnyvale and Mountain View to name a few.

Shopping Center Note for Sale Silicon Valley

There are some very good investments available outside of the obvious REO deals. In fact, most of the commercial REO investment properties sell at close to fair market value - some even exceed that price point. We are working closely with some banks to bring the better investments to the table. For various reasons (cash reserve issues, publicity, flooding the market, etc) banks are hesitant to foreclose on their bad commercial loans. The solution is a sale of the note/deed of trust to an investor at a discount. This then allows the investor to foreclose or deed in lieu the real property. One deal that we are reviewing is fully occupied and almost a 10 cap rate for an excellent building. We are also looking for investors to pair with these offerings.

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

Cupertino New Construction Single Home & Professional Office

United Commercial Bank seized by FDIC and sold to East West Bank

One of the largest banks in the US focusing on Asian American lending was seized this weekend by the FDIC. This is the 120th bank to fail this year. East West Bank, with a similar Asian American focus was chosen by the FDIC to acquire UCB's assets, loans, liabilities and branches. This is a boon for East West Bank - especially because the loan loss liabilities are covered by the FDIC. Locally, UCB had a $22,000,000 loan in default on The Globe development in Fremont. Construction lending was the core of UCB's business. Typically a high profit lending segment, although of course the high risk is evident in this economy. See the San Jose Business Journal article on this for more details.

Kohl's Opening 37 stores tomorrow - Mervyn's death yields Kohl's expansion

In 2003 Kohl's - based out of Wisconsin - opened 28 stores in California. A market that any retailer would want to be in. This was made possible by the bankruptcy of KMart. Kohl's bought the leases through the bankruptcy court at a discount and in bulk. Late last year, Kohl's successfully bid on 30+ leases that Mervyn's had at that bankruptcy auction. Now, tomorrow, Kohl's is having a mass grand opening expansion of 37 stores - most in California. This is a good sign that there are still good fundamentals in retail amidst all the retail store closures recently. If you can buy a discounted lease and have decent retail sales of mass market appealing wares, you can be profitable. Kohl's further steps in to the battle with market segment leader Target - who had owned Mervyn's until 2004 when it sold to a private equity partnership. Smart move Target! And perhaps a better move for Kohl's - we shall see...

Single Tenant NNN Family Dollar Store for Sale

Just listed is a Family Dollar store in Akron, Ohio. Amazing pricing on this solid investment property. 9.0% cap rate at a $737,733 list price. Corporate leased store by a company that is doing very well in this current economy. Over 8 years left on the lease. Corporate tenant pays for taxes and insurance. The store had $1,350,000 in sales last year. $52,000 average household income in a 5 mile radius with 240,000 population in that same area. This is a wonderful investment and amazingly priced.

Now - why is it so well priced? There is a lack of 1031 exchange buyers in the market since last year. This typical single tenant net leased investment would have sold to a west coast buyer who was selling his single family rental house with $400,000 in equity. Now that same rental home has $100,000 in equity - not enough to do an exchange and with that same house rented - why sell now? The buyers went away for the low price point NNN deals - and of course that affects the chain going up to the larger shopping center investments.

This is a great opportunity for someone with cash on the sidelines or an investment property in the right location that has not lost it's equity in the last 18 months. This same Family Dollar store will sell at a 7.5 cap rate in a couple years when the market solidifies. Very good deal indeed!