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Velocity at Lawrence Station Velocity at Lawrence Station is located at 3488 and 3508-3518 Agate Dr.

SANTA CLARA, CA—Record-breaking stats continue to mount in the Valley. In a recent high price per unit sale, Velocity at Lawrence Station sold for $456,250 per unit, or a total of $25.55 million. The seller was Old Adobe Management Company and the buyer was a private owner.

“This is the ultimate example of a successful full-cycle investment,” says Robert Johnston, senior vice president of Levin Johnston. “The Levin Johnston team assisted Old Adobe Management Company in acquiring this 56-unit property in February of 2015 for $14.25 million. After extensive strategic renovations, the property’s value increased exponentially, enabling us to achieve a per-unit sale price that is the highest in the history of Santa Clara for a community with more than 10 units, according to CoStar.”

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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