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Retail center in San Jose’s Little Saigon district is bought

SAN JOSE — A retail center in east San Jose’s Little Saigon district has been bought — for the second time in a year — by a Bay Area-based investment group.

Little Saigon Plaza, a retail, supermarket and restaurant center on Story Road near McLaughlin Avenue and U.S. Highway 101, has been bought for $11.6 million, according to documents filed on Dec. 5 with the Santa Clara County Recorder’s Office.

The deal points to rising values for this type of commercial property in Silicon Valley, this news organization’s review of property records in the recent and previous transactions for the retail center, which has addresses ranging from 1150 through 1210 Story Road.

The buyer was a group led by the members of the Millbrae-based Pov & May Tov Family Foundation, according to county and state public records.

Little Saigon Plaza, a retail center with addresses ranging from 1150 through 1210 Story Road in east San Jose’s Little Saigon district. 

Intelli, an affiliate headed up by Do Van Tron, a San Jose-based business and real estate executive, sold the retail center to the Tov Family group, the property documents show.

In December 2021, slightly under a year ago, the Intelli group bought the center for about $9 million.

That suggests the value of the center has jumped roughly 28.9% in about a year.

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