Speaking of San Jose, ValueRock Realty Partners just bought a 120k SF property there, fully occupied by Target for $18M at 2155 Morrill Ave. The acquisition marks the first entry into Silicon Valley for ValueRock and brings the firm’s 12-month acquisition total to 500k SF of retail space. We wrote about a Cupertino Target about 20 miles southwest that just hit the sales block, and we checked in with a broker who's marketing it to get some context. That similarly sized property (a stone's throw from Apple's campus) could fetch $60M. CBRE's Gleb Lvovich tells us the real estate/location is night and day. In short, Silicon Valley is a tale of many cities.
Target Sells in San Jose
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