Silicon Valley industrial properties still beguile buyers
SAN JOSE >> A busy real estate firm has scooped up an empty plot of land in San Jose where a big industrial complex could sprout.
With more consumers shifting to online commerce, industrial buildings have become a popular category for developers and buyers as demand intensifies for logistics, package handling, warehouse, and shipment sites.
Xebec Realty Partners has bought the vacant property at 2905 S. King Road in east San Jose, Santa Clara County property records filed on Feb. 26 show.
Acting through an affiliate, Xebec Realty paid $7.25 million for the land, according to the county documents.
Dallas-based Xebec could readily develop the site, which is near the two busy interchanges of U.S. Highway 101 at Capitol Expressway and at Tully Road.
The site has full city approval for the development of an industrial building totaling 63,100 square feet, according to Meacham Oppenheimer, a commercial real estate firm that arranged the transaction.
Four industrial buildings could be developed on the site, according to Meacham Oppenheimer brokers DavidTaxinandJeremyAwdisho, who handled the deal.
Each of the four buildings could provide space for a single user or multiple users, a marketing brochure prepared by Taxin and Awdisho shows.
Xebec Realty states plainly on its website that it’s a big believer in the prospects for industrial sites.
“The way we shop is changing,” Xebec Realty says on its website. “In growing numbers, consumers abandon the brick-and-mortar locations of their favorite retailers. Instead, consumers shop from their phones, tablets, and laptops.”
Online commerce has revamped how and where retailers interact with consumers.
Plus, tech titans such as Amazon have been buying and leasing industrial properties and buildings suitable for logistics.
“Industrial is the new retail,” Xebec Realty says on the site.