SV13 - Silicon Valley, CA
Local Capital Group invested in and became the Operating Partner in July 2018 and sold the portfolio in August 2020. SV13 was comprised of 13 building Industrial / R&D portfolio totaling 900K sq ft throughout Silicon Valley, namely Santa Clara and South San Jose. The properties were 97% occupied at the time of acquisition with varying lease expirations and tenants upon investment.
The R&D and Industrial buildings are located in prime locations with key industrial attributes: loading, power and clear height. Silicon Valley has been affected by an overriding theme of converting industrial into office and/or residential. With a decreasing supply of Industrial and R&D, SV13 buildings were poised to be leased with strong rental growth. The investment plan included renewing tenants at market rent, completing deferred capital, small vacancy reduction and working with existing tenants to provide best in class space and service as an owner and property manager. Acquisition in 2018 Exited in 2020 |
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