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  • OTVI.USA
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American Shipper

Bixby Land Co. continues Silicon Valley buying spree

Bixby Land Co. continues Silicon Valley buying spree

Irvine, Calif.-based real estate investment trust Bixby Land Co. has acquired a 106,000-square-foot industrial building in San Jose for $21.5 million.

   BLC said the facility is fully leased to FedEx, with nine years remaining on the lease. The Memphis, Tenn.-based integrated carrier operates a regional distribution center out of the facility.

   BLC's purchase is the fifth Silicon Valley acquisition in the past 18 months, representing a total investment of more than $280 million and giving the firm an area portfolio topping 1 million square feet.

   Noting a strong leasing market in the area, BLC said it plans additional Silicon Valley purchases during 2008.