Thinking of entering the safe deposit industry? Ready to go facility for sale……
A downtown Los Altos structure “built like Fort Knox” is up for sale – with an asking price of $4.5 million.
The Los Altos Vault and Safe Deposit Co. at 121 First St. hit the commercial real estate market March 18. On its website, the company compares the fortified steel and concrete structure to Fort Knox – the U.S. Federal Reserve’s super-secure gold depository in Kentucky. Online real estate listings suggest that the buyer could use the site for housing, a restaurant or a banking service project.
Gerald Colombi, owner of the private vault company, died last year at the age of 91, and his business partners decided to sell, according to Jan Strohecker of Coldwell Banker.
She noted that the business partners hope the buyer will lease the 3,363-square-foot space back to them so that current staff can continue operations.
The whole press release could be found here