SAN JOSE — A big South Bay portfolio of office, commercial and industrial buildings has been bought by a New York-based real estate investment group in a deal valued at well over $200 million.
The buying group paid $222 million for buildings in San Jose, Milpitas and Santa Clara, according to documents filed on May 1 and on May 2 with the Santa Clara County Recorder’s Office.
The purchase of the buildings suggests that investors still hunger for Bay Area properties despite the sour business prospects for many commercial real estate buildings in the region.
New York City-based DRA Advisors, an investment firm, is listed as the managing member of the buying group for the buildings, county real estate and state government business records show.
Here are the locations of the buildings and how much the DRA Advisors-managed buying group paid for each site, according to the county public documents:
— Milpitas, $75 million to buy four buildings located at 901, 1001, 1123 and 1151 Cadillac Court. Together, the four buildings total 301,600 square feet.
— San Jose, $74 million for buildings at two sites in the Bay Area’s largest city. The San Jose deals include $57 million for a building at 591 North King Road that totals 213,600 square feet and $17 million for a building at 1721 Rogers Avenue totaling 22,200 square feet.
— Santa Clara, $73 million for four buildings on Leonard Court. The addresses include 3401, 3501 and 3521 Leonard Court.