Sand Hill Property Company purchases $27 million auto dealership in Los Gatos 

Photo courtesy of Google Maps

Real estate investment and development firm Sand Hill Property has purchased a 72-year-old car dealership site in Los Gatos as a part of its plan to create a 7.4-acre development. 

The Palo Alto-based developer paid $26.5 million for the 4.5-acre Moore GMC auto dealership at 15480 and 15500 Los Gatos Boulevard. The acquisition will be added to the 2.9-acre property Sand Hill purchased next door in 2021 for $15.1 million.  

While no specific plans have been submitted for the site, the developer intends to put a 40,200-square-foot Whole Foods Market on the site, replacing the chain’s nearby location at 5980 Los Gatos Boulevard. 

The new Whole Foods is expected to open in late 2024.  

Sand Hill Property Company has developed and invested in 65 properties across Silicon Valley, including The Rise in nearby Cupertino, which will one day host close to 2,400 homes and almost 2 million square feet of retail space.