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South Bay real estate portfolio acquired for more than $200 million

New York-based Group Buys $200 Million South Bay Real Estate Portfolio

A New York-based real estate investment group has made a significant move in the South Bay, acquiring a portfolio of office, commercial, and industrial buildings for over $200 million. The buying group, managed by DRA Advisors, paid $222 million for properties in San Jose, Milpitas, and Santa Clara.

The purchase includes buildings in Milpitas totaling 301,600 square feet, San Jose buildings at 591 North King Road and 1721 Rogers Ave., and Santa Clara buildings on Leonard Court. DRA Advisors completed the acquisitions in early May, purchasing the properties from real estate investment firm Blackstone.

Despite challenging market conditions, the acquisition highlights the continued appeal of Silicon Valley’s commercial real estate sector. The diverse mix of office, commercial, and industrial spaces in the portfolio are currently occupied by various tenants, making it a strategic investment for the buying group.

The deal serves as a reminder that despite the uncertainties in the commercial real estate market, Silicon Valley properties remain attractive to investors looking for long-term growth opportunities.

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