SVP Management Buys Vacant Flex/R&D Building in Bay Area for $19M
SAN JOSE, CALIF. — SVP Management has purchased a vacant flex/R&D office building, located at 3775 N. First St. in San Jose. Chandler HFP, an affiliate of Los Angeles-based Held Properties Inc. sold the property for $19 million.
Built in 1985, Honeywell occupied the single-story, 67,733-square-foot building from its acquisition in 2013 through December 2017. Originally, the property served as the world headquarters for RAE Systems Inc. Held Properties owned the property since 2014.
Bob Bower and Chip Sutherland of CBRE Capital Markets-Investment Properties represented both parties in the transaction.