San Jose Office Park is Sold
Sharon Simonson

ATC Partners LLC, a San Francisco real estate developer, has bought the West Valley Executive Park in San Jose for $18.6 million from IRP Muller Pacific Properties LLC. It's the first South Bay property that ATC has acquired, company partner Tom Keane says.

Mr. Keane, Michael Halper and Drew Gordon are the three ATC operating partners.

The property, located at 4010-4040 Moorpark Ave., has 126,000 square feet of offices in four, two-story buildings. The property is intended for lease to small businesses. It is approximately 70 percent occupied.

"We are focusing on these garden-style suburban office buildings because we think there is a great business there. We think the small tenant market is somewhat insulated from these huge real estate cycles we've seen over the last several years, and we think we have an expertise in marketing to these kinds of tenants," Mr. Keane says.

"We'd love to buy more down there. We have a lot of confidence in this kind of business plan in the South Bay. There is a lot of entrepreneurship down there. But these kinds of buildings don't come up for sale all that much," he adds.

Found at: San Jose Bizjournals