They bought a 300,000 sq ft property for almost $150M. That values a 6000 sq ft land at about $3M. That’s ridiculous. @Jane, may be you should be more optimistic about your properties. Unless I screwed up in my calculations.
I think 300,000 sq ft is built up and not land. 300,000 sq ft is roughly 7 acres and i am sure the property is bigger than 7 acres.
It is certainly about 300,000 sq ft. This is from another source:
yes thats built area and you calculated the value based on land area. where does it say the total lot area is 300,000 sq ft?
Found this listing that indicates total land area as 277 AC, wonder if it is acres… it does not look right either its definitely not that big.
You are probably right. Thinking about it 7 acres seems too small for that place. Sorry Jane if I got your hopes up.
Also note that Saratoga is expensive than Cupertino, land value is high. This one is next to big mall, location is prime area shoppers place.
It’s not really a prime retail location. Very few people travel that way, slow business. Plus retail is killed by Amazon.
No way. If you compare price/sf, Saratoga is cheaper than CU.
Besides, this mall is in WSJ.
Not very close to Saratoga prime area.
One night dream was good enough for me.
Exactly, not many realize that. SFHs in Saratoga is more expensive than CU because they are of larger square footage on larger lot.
Saratoga’s a little too far for commuting. Also lacks the racial diversity and population growth. Also an excessive number of women , lacks gender balance.
“For every 100 females age 18 and over, there were 92.6 males.”
Population is the same as 1980. Lacks multi family buildings, no business community, zero jobs.
I agree on price/sf, they can not beat CU. Since lots of Saratoga is mostly bigger, it is expensive.
Saratoga is talking about San Jose’s finest neighbor, equivalent to Atherton being the most expensive place close to Redwood city.