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Big San Jose office building is bought by California billionaires

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SAN JOSE — A massive office building in north San Jose was purchased by a California billionaire family in a deal worth more than $80 million. This is a deal that signals a strong interest in Silicon Valley real estate.

The office building at 350 Holger Way was purchased by an affiliate led by Stewart Resnick and his wife Linda Resnick, a Los Angeles-area billionaire who is the founder of The Wonderful Co. of the wealthiest farmers in the country.

According to documents filed in Santa Clara on Nov. 23, Resnick-controlled affiliates earned about $84.9 million, including the price paid for the building and loans the billionaire underwrote as part of the purchase. I bought the building in a substantial deal. County Registrar’s office.

The new owner paid $54 million for the property and underwrote a total of $30 million in mortgages provided by Wells Fargo, according to county real estate records. According to state business records, the affiliate is located at The Wonderful Co.’s headquarters, and the affiliate’s responsible person is The Wonderful Co.’s treasurer.

350 Holger Way, North San Jose office and research building totaling 96,500 square feet. (loop net)

The building has a total area of ​​96,500 square feet and is three stories high, according to the LoopNet commercial real estate listing service.

In 2021, an affiliate of Thor Equities purchased the building for $50.5 million. Excluding the impact of the loan, the building’s value would have seen him rise 6.9% in just under two years.

Stewart Resnick and Linda Resnick are co-owners of The Wonderful Co., a $5 billion privately held company that offers “high quality, healthy brands,” according to a post on the company’s website. and is also a co-founder.

Mr. and Mrs. Resnick are also reported to own a huge amount of the country’s pistachio crop.

According to a posting on the company’s website, “The Wonderful Co. is the world’s largest nut producer, America’s largest citrus producer, and the world’s largest flower delivery service.

Stewart Resnick(L) and wife Lynda Resnick(R) are co-owners of The Wonderful Co. (The Wonderful Co.), a $5 billion private equity firm based in Los Angeles.
Stewart Resnick (L) and wife Linda Resnick (R) are co-owners of The Wonderful Co., a privately held $5 billion investment firm based in Los Angeles. (The Wonderful Company)

The company’s brands also include Fiji Water, a popular bottled water.

Resnicks’ first acquisition was in 1979 when it acquired Teleflora, a large flower delivery service. Over the decades, entrepreneurs have added a series of purchases. The Resnicks also own Landmark Vineyards, a 240-acre winery and estate in the Sonoma County town of Kenwood.

“We grow, harvest, bottle, pack and sell a variety of products including fruits, nuts, flowers, water, wine and juices,” Wonderful Co. says on its website.

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