San Jose private school site is bought by out-of-state investors

SAN JOSE — A private school property in San Jose was bought by real estate investors from Arizona at a price below the prior sales amount and the site’s current assessed value.

STORE Capital Corp. purchased the school site at 1290 Parkmoor Ave. for $62.6 million, according to documents filed on Jan. 8 with the Santa Clara County Recorder’s Office. BASIS Independent Silicon Valley Upper School is the tenant.

The Arizona-based real estate firm’s strategy is to buy properties that have one tenant.