December 23, 2015 Comments Off on Essex Property Trust Spends $93M in San Jose Views: 615 Bay Area, California News

Essex Property Trust Spends $93M in San Jose

To learn more about current  Silicon Valley commercial real estate activities, attend Connect Silicon Valley on Feb. 9 at the Glass House in San Jose.

Essex Property Trust is betting big in San Jose, with the $92.8-million purchase of the 183-unit Enso apartment complex, located near Cisco Systems and the Baypointe light rail station.

Fairfield Residential sold the luxury property, with the help of ARA Newmark’s Mark Leary and Curtis Gardner. The transaction, which is one of several that have taken place in the area, translates to $507,000 per unit.

The Enso apartment complex was built after the city agreed to allow new development in its main jobs area several years ago.  But, once current construction is completed, there will be no new development as the units have all been allotted.

Enso has a dog park, wi-fi lounge, stainless-steel appliances and other amenities. Essex also owns Epic, in North San Jose, which has 769 residences.

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