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Buyers grab Milpitas real estate near Great Mall, including school site

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Out-of-state investors have plunked down well over $40 million to buy two sites across the way from the Great Mall in the South Bay.

MILPITAS — Out-of-state investors have plunked down well over $40 million to buy two sites across the way from the Great Mall in the South Bay, including one parcel where a school currently operates, public records show.

Store Capital, which is a real estate investment trust, paid a combined $47.3 million for the two properties, the county documents show. The Store Capital affiliate paid $21.5 million for an adjacent building at 1323 Great Mall Drive. This building totals 53,700 square feet. The property is an office and research building.

 

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