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551 W Julian Street, San Jose, CA

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551 W Julian Street

San Jose, CA 95110 - Downtown San Jose West Submarket

Property Type:Land Parcel Size:.13 Acres
For Sale Price:For Sale Price/Acre:For Sale Price/SF:-

Proposed Use:-

On-Site Improv:Finish grade

Sale Notes:
Zoning: Heavy Industrial
General Plan: Transit Employment Center
Near public transit bus and light rail services

The property is a vacant/unimproved parcel. There are no lease or other revenues generated by the property. The property is located in an industrial district and is near the San Jose SAP Arena.

Method of Sale: The Successor Agency is soliciting offers from prospective buyers to purchase the property located at 551 West Julian Street, San Jose, California. Prospective buyers shall have until 4:00 PM, November 1, 2016 to evaluate the Property and submit an offer to purchase. A prospective buyer must submit an offer to purchase the Property by executing a Purchase and Sale Agreement in the form provided and inserting the proposed purchase price into the Agreement. The Successor Agency approved form of Purchase and Sale Agreement is available at Executed Purchase and Sale Agreements must be received by the Successor Agency no later than November 1, 2016 at 4:00 PM at 200 East Santa Clara Street, 13th floor, San Jose, California, 95113 or electronically to Richard Keit: Any
changes to the form of the Purchase Agreement shall be cause for rejection of the offer to purchase.

Deposit: A deposit of ten percent (10%) of the purchase price shall be required as provided in the Purchase and Sale Agreements. The deposit is due within 5 days of award of Oversight Board approval and is nonrefundable.

Property Condition: The Property shall be sold in an as-is condition.

Payment and closing costs: The purchase price shall be payable in cash at the close of escrow. Buyer and seller shall split equally all customary closing costs and fees. Title insurance shall be provided by First American Title Company.

Close of escrow: Close of escrow shall occur 30 days after Oversight Board
approval. Close of escrow is estimated to occur on or before December 12, 2016.

Commissions: Successor Agency shall not be liable for any real estate commission or brokerage fee that may arise from the transfer of the Property.

Board Approval: All transactions have to be approved by the Successor Agency Board and the Oversight Board.

Rejection of Offers: Successor Agency reserves the unqualified right to reject any and all offers.

Real Property Taxes. The Property is currently not on the real property tax roll. Upon the transfer of the Property to a private party, the Property will be returned to the real property tax roll and real property taxes and assessments will be assessed on the Property. Potential buyers should consult with their legal and financial advisors to understand the implications related to the real property taxes and assessments on the Property.

San Jose Redevelopment Agency
Richard Keit
(408) 795-1849

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