San Francisco-based ProspectHill Group partners with SKS Partner, LLC for the acquisition of the 65,000-square-foot vacant commercial building at 3901 North First Street in North San Jose.
Extensive redevelopment to reposition the single storey building into a highly attractive space for office and research and developement (R&D) uses is the main goal of the partnership.
"SKS-PHG is excited to transform the Property into a contemporary office/R&D building with a new glass lobby, SOMA-style interior improvements with exposed wood beams, ceilings and polished concrete floors," said Dan Kingsley, Managing Partner at SKS. "Other significant site improvements will include a vibrant outdoor courtyard accessible through glass roll up doors, new landscaping and several EV charging stations."
According to the press release provided by Business Wire, the location of the 3901 North First Street buidling is very ideal for businesses because of its easy access to the 237 Freeway, and as it is within walking distance of both major VTA Light Rail line stops. The commercial building is located at San Jose Market and is only one block away from The First Retail Center, which offers a wide range of dining and service amenities, as well as Hyatt and Marriott flagged hotels.
"We were drawn to this opportunity by the asset's prominent location, robust power supply, high ceiling heights of the existing building, and the opportunity to create a dynamic new office environment in one of the region's most desirable submarkets," said Gambhir Kaushek, Partner of San Francisco-based ProspectHill Group.
SKS Partners, LLC is an investor, developer and advisor of commercial real estate properties that has acquired, entitled, developed and operated over five million square feet of office, mixed-use, medical office, life science and multi-family projects.
ProspectHill Group is a private real estate investment company that invests alongside experienced operators, and is actively involved in all aspects of the acquisition and asset management of its investments.
