Overview
THE OPPORTUNITY
Newmark, as exclusive advisor, is pleased to present the unique opportunity to acquire the fee simple interest in 1213 Elko Drive (“The Property“), a 44,277 square foot building in the heart of Silicon Valley. This high-quality R&D building was built in 1985 and is located on a hard corner in the premier Sunnyvale submarket. The Property has easy access to Highway 101 and Route 237 along with the main thoroughfare of Lawrence Expressway, providing unparalleled access to all parts of Silicon Valley and the greater Bay Area.
At the Close of Escrow, the Property will be 100% leased to GSI Technology, Inc, a publicly traded company, for 10 years with annual increases.
1213 Elko Drive provides the investor the unique opportunity to acquire a core single tenant net leased asset with a 10-year term to a publicly traded company.
Investment Highlights
· 100% net leased investment opportunity to a publicly traded company, GSI Technology, Inc.
· 10 years of initial term with annual rent increases
· Under market rent low price psf
· Priced below replacement cost
· Prime Sunnyvale location
· Great glass line, clear heights, and multiple roll-up doors
· 2,000 amps of power
· One of the last remaining Industrial sub-markets in Sunnyvale