Former Circuit City Changes Hands in San Jose

AutoNation purchased the former Circuit City building at 4070-4080 Stevens Creek Blvd. in San Jose, CA, for $11.15 million, or about $160 per square foot.

Built in 1969, the 69,780-square-foot retail building sits on 5.2 acres. At time of sale, the building was 34 percent occupied. Although bankruptcy was the seller’s motivation to sell, the property sold at market value.

James Avallone of DJM Realty in Melville, NY, represented the seller. Jacqueline Blake and Bob Berndt of SRS Real Estate Partners represented the buyer.

Please see CoStar COMPS #1790354 for more information on this transaction.