Topaz RE Investors, Inc. acquired the 45,000 sq ft industrial building at 345 Los Coches St. in Milpitas, CA from iStar Financial, Inc. for approximately $8.11 million, or about $181 per square foot.
The single-story, 44,800-square-foot industrial building was constructed in 1984. It has two loading docks and one drive-in bay. The property sits on 3.9 acres in the Milpitas submarket of Santa Clara County.
The property was vacant at the time of sale, and the buyer has plans to scrap the building.
Donald Reimann and Gregg Von Thaden of Colliers International in San Jose represented the seller and buyer in the sale.