A real estate investor recently purchased a prominent commercial property in Gilroy for a price of $13.8 million, according to the transaction’s broker.
The property, located 7900 Arroyo Circle, includes a 125,597-square-foot building on a nearly 14-acre property, according to Cushman & Wakefield, which brokered the sale. The buyer is Gilroy Ventures LLC, an area real estate investor.
The property enjoys extensive freeway frontage along Highway 101. The site is currently used as an indoor and outdoor showroom for Family RV, a recreational vehicle business.
According to Cushman & Wakefield, the property can accommodate a variety of commercial uses, including showroom, retail, warehouse, automotive and more.
Cushman & Wakefield represented the property’s seller, Gilroy JRV LLC.
“This is a unique versatile, multi-functional property on a large parcel with a premier location in southern Santa Clara County/Silicon Valley,” said Cushman & Wakefield Senior Director Miki Correa. “The irreplaceable location offers extensive freeway frontage and is also near an abundance of amenities.
“Given its profile, the asset provides the buyer with several near- and long-term investment strategies, including but not limited to re-tenanting the project, future redevelopment including expanding the existing building footprint, and more.”
The property is also surrounded by numerous retail and office buildings in and around the Gilroy Outlet Mall. The site also sits directly in front of a large parcel that is owned by a large data service center, according to Cushman & Wakefield.
The building at 7900 Arroyo Circle was originally owned and occupied by a major global multichannel retailer brand that is also one of the world’s largest companies.
Family RV did not immediately return a phone call. The company currently offers RV sales, rentals, service and storage at the Arroyo Circle property.
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The building at 7900 Arroyo Circle was originally owned and occupied by a major global multichannel retailer brand that is also one of the world’s largest companies.