November 18, 2016
San Francisco-based Ridge Capital Investors, LLC acquired One Eleven Market Square in downtown San Jose from Swift Real Estate Partners for a reported $65 million. The purchase was completed in partnership with an undisclosed commingled discretionary equity fund.
One Eleven Market Square is comprised of two towers, 111 West St. John Street, a 12-story, 163,775-square-foot asset, as well as 111 North Market Street, a 10-story, 156,784-square-foot building.
Swift acquired the property in 2014 for $40 million, and subsequently completed a capital improvement program, as well as bringing the building to 78% leased.
NGKF Capital Markets’ Steve Golubchik, Edmund Najera and Ben Bucci handled the sale.
Golubchik says, “Substantial residential development in the surrounding area, coupled with exceptional access to public transit and retail amenities, makes Market Square a compelling opportunity.”
For comments, questions or concerns, please contact Dennis Kaiser