Ralph N. Borelli Named Land Broker of the Year — Again
Borelli follows 2004 ASVB honor by closing seven transactions representing 117 acres and more than $118 million in total value, earning him his second consecutive win.
San Jose, Calif., March 29, 2006 — Ralph N. Borelli, president and CEO of Borelli Investment Company, has been named the 2005 Land Broker of the Year by the Association of Silicon Valley Brokers (ASVB). Borelli, who was also the 2004 ASVB Land Broker of the Year, closed seven land transactions in Silicon Valley in 2005, totaling nearly 117 acres and valued at $118.7 million. This earned Borelli the 2005 ASVB honor in a landslide, putting him at nearly four times the value of his nearest rival.
One of Borelli’s most significant land transactions in 2005 was his brokering of surplus property owned by Santa Clara County near the Elmwood correctional facilities in Milpitas. The nearly 50-acre parcel had been held by the county for possible expansion of the jail for many years. Facing a significant budget shortfall in 2002, the county made the decision to sell. Borelli Investment Company helped bring all the parties together – Santa Clara County, the City of Milpitas and its Redevelopment Agency, and winning homebuilder KB Home. The property will support nearly 800 single family homes, townhomes, and condominiums from KB Home, worth approximately $500 million at build-out. In addition, the county has retained a long-term ground lease on part of the property, which will support three large automobile dealerships – generating a substantial amount of lease revenue for the county and sales tax revenue for Milpitas.
“I’m very honored to receive this award from the ASVB for the second year in a row,” said Borelli, president and CEO of Borelli Investment Company. “I’ve always enjoyed the creativity required to complete land transactions in Silicon Valley. A lot of parcels have multiple owners or need repositioning or entitlement work before a deal can be closed. We have always made land sales an integral part of our business, giving us valuable experience in completing complex deals.”
Borelli’s other noteworthy land transactions in 2005 included: a ten-acre section of the old Hacienda Gardens Shopping Center on Meridian at Foxworthy in San Jose, which Toll Brothers will use to build a 200-unit luxury townhome complex called Willow Glen Place; the sale and joint venture development of approximately 66 acres of land from the Guglielmo Winery in Morgan Hill to create the largest retail complex in Morgan Hill – with 700,000 square feet of space; and the repositioning and sale of a former 18-acre storage yard for Union Pacific Railroad on East Williams Street in San Jose to KB Home for a new home development.
“Land brokerage is one of the specialties of our firm,” Borelli noted. “With so little vacant land in Silicon Valley, we enjoy the unique challenges each transaction presents. And we don’t mind ‘getting our hands dirty’ to bring the buyer and seller together and obtain a good deal for each party.”
Borelli Investment Company is one of the oldest commercial real estate firms in the Santa Clara Valley, with more than 50 years of experience. The company provides a full range of commercial real estate services-from development and construction management to land sales and consulting for sales and leasing. More information about Borelli Investment Company’s services may be obtained by calling (408) 453-4700 or visiting www.borelli.com.
Contact: Ralph Borelli, CEO Borelli Investment Company 1770 Technology Dr. San Jose, CA 95110 Ph: 408.453.4700 Fax: 408.453.4636 E-mail: ralph@borelli.com