Aged San Jose motel may well be replaced just after true estate deal by hectic investor

SAN JOSE — The buy by a fast paced serious estate investor of an aged motel home in San Jose could direct to new routines for the chunk of land that the web page occupies.

A team of prospective buyers headed up by Do Van Tron, a San Jose-centered company and authentic estate executive, has purchased a house at 2724 Monterey Street in San Jose, in accordance to paperwork filed on Sept. 1 with the Santa Clara County Recorder’s Workplace.

On Sept. 2, Tron finished the buy of the previous Sears shop following to Eastridge Heart buying shopping mall in San Jose, disclosing that he intends to transform the previous division retailer into an indoor Vietnamese industry.

Tron, performing as a result of his affiliated actual estate investment company, Intelli, compensated $24.8 million for a web page that features the outdated Sears section retail store, Sears automobile services middle and a significant area parking great deal, according to county home documents.

In the motel acquire, Tron’s expenditure team paid $6.4 million for a 2.4-acre website in the vicinity of the corner of Monterey Street and Umbarger Road, county documents present. Tron also acquired a $3.2 million mortgage from Tri Counties Bank at the time of the acquire.

The motel web-site offer in San Jose was organized by means of brokers David Taxin and Jeremy Awdish with Meacham/Oppenheimer, a commercial real estate business.

“We are searching for any individual who would like to place in a new use on the assets,” said Taxin, a associate with Meacham/Oppenheimer.

An array of probable routines could replace the motel. The residence is huge enough at far more than two acres that several employs could work on the web page.

“It could be quickly food items, a veterinarian medical center, a gasoline station,” Taxin reported. “It could even be industrial.”