Big San Jose office building is bought by California billionaires

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SAN JOSE — A big office building in north San Jose has been bought by a family of California billionaires in a deal worth more than $80 million, a transaction that hints at sturdy interest in Silicon Valley real estate.

The office building, located at 350 Holger Way, was bought by an affiliate headed up by Stewart Resnick and his wife Lynda Resnick, Los Angeles-area billionaires who are the founders of The Wonderful Co. In 2018, Stewart Resnick was reported to be one of the nation’s wealthiest farmers.

The Resnick-controlled affiliate bought the building in a deal worth about 84.9 million, including the price paid for the building as well as a loan that the billionaires assumed as part of their purchase, according to documents filed on Nov. 23 with the Santa Clara County Recorder’s Office.

The new owners paid $54 million for the property and assumed a Wells Fargo-provided mortgage totaling $30 million, the county property records show. State business records show the affiliate is based at the headquarters of The Wonderful Co. and that the affiliate’s responsible officer is the treasurer of The Wonderful Co.

350 Holger Way, a north San Jose office and research building that totals 96,500 square feet.
350 Holger Way, a north San Jose office and research building that totals 96,500 square feet. (LoopNet)

The building totals 96,500 square feet and is three stories high, according to the LoopNet commercial property listing service.

In 2021, an affiliate of Thor Equities bought the building for $50.5 million. Excluding the effect of the loan, that means the value of the building has risen 6.9% over a span of slightly under two years.

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

The Resnicks also are reported to own a huge chunk of the nation’s pistachio crop.

“The Wonderful Co. is the world’s largest grower of tree nuts, America’s largest citrus grower, and the world’s largest flower delivery service,” according to a post on the company’s website.

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

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

The Resnicks’ first acquisition came in 1979 when they bought Teleflora, the big flower delivery service. Over the decades, the entrepreneurs added an array of purchases. The Resnicks also own Landmark Vineyards, a winery and estate with 240 acres in the Sonoma County town of Kenwood.

“We grow, harvest, bottle, package, and market a diverse range of products, including fruits, nuts, flowers, water, wines and juices,” Wonderful Co. states on its website.

 

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