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San Jose office site near big Google tech hub lands local buyer

Office building is located near emerging Google campus in San Jose


SAN JOSE — A San Jose office building located near a big Google tech hub has been bought by a veteran real estate firm active in the Bay Area.


Dollinger Properties, acting through an affiliate, paid about $9.1 million for the 37-year-old building, according to documents filed on May 2 with the Santa Clara County Recorder’s Office.


The just-bought building is located at 150 Nortech Parkway near a big office, research and industrial tech campus with several buildings that Google owns in San Jose’s Alviso district, the county documents show.


The building totals about 40,000 square feet and occupies a 2.5-acre parcel. The parcel, which includes a big surface parking lot, is large enough that it might be possible to replace the structure with a modern office or life sciences building. The building was constructed in 1986.


The Dollinger Properties affiliate also obtained a loan of about $6.5 million from Technology Credit Union at the time of the purchase.


Cushman & Wakefield commercial real estate brokers Steve Pace and Dan Hollingsworth were marketing the building for sale, according to a brochure.


Redwood City-based Dollinger displays on its website a portfolio of numerous properties in the Bay Area. North San Jose, Milpitas and Fremont are markets with a particularly heavy concentration of properties in the company’s portfolio.


Dollinger owns and manages more than 70 properties in California that together total a combined 6 million square feet, according to the company.


“We are a family-owned business focused on the acquisition, through construction or purchase, of multi-tenant research and industrial, multi-family and retail properties for long-term ownership,” Dollinger states on its website.


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