"A building that contains a wine-tasting room and nail salon has been bought in a deal that suggests investors are seeking opportunities to buy properties in small, but affluent downtowns. A South Bay group paid $4.6 million to buy a two-story mixed-use building in downtown Los Gatos, documents filed on Nov. 18 with the Santa Clara County Recorder's Office show. The buyer is an affiliate headed up by Brian Dexheimer, who is based in Saratoga, state documents show."
"At 21 and 23 West Main St., the 7,200-square-foot building is a block from University Avenue, according to a marketing brochure circulated by the broker on the purchase, Colliers Executive Vice President John Machado. Gali Vineyards tasting room and Tangles nail salon occupy the retail spaces. The rear of the building contains what's described as two luxury apartments and a large garage that is expected to be used as an artist's workshop by the new owner, according to Machado."
A South Bay investor affiliate led by Brian Dexheimer purchased a two-story, 7,200-square-foot mixed-use building at 21–23 West Main St. in downtown Los Gatos for $4.6 million in an all-cash transaction. Retail tenants include Gali Vineyards tasting room and Tangles nail salon; the rear contains two luxury apartments and a large garage planned for use as an artist's workshop. The tasting room opened in 2021 and serves wine from Gali Vineyards' 18-acre Corralitos site. Downtown Los Gatos exhibits strong demand, high discretionary income, and tight development controls, supporting investor interest in small, affluent downtown commercial properties.
Read at www.mercurynews.com
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