A two-story mixed-use building in downtown Los Gatos, which includes a wine-tasting room and a nail salon, has been acquired for $4.6 million. The purchase, finalized on November 18, was made by a South Bay group led by Brian Dexheimer through an all-cash deal. The property, located at 21 and 23 West Main Street, spans approximately 7,200 square feet and is situated just a block away from University Avenue.

Currently, Gali Vineyards operates a tasting room within the retail space, featuring wines from their estate in Corralitos, while the back of the building houses two luxurious apartments and a large garage that intends to serve as an artist’s workshop under the new ownership. The tasting room has been in operation since 2021.

John Machado, the broker from Colliers who facilitated the sale, emphasized the strength of the downtown Los Gatos market, drawing parallels to similarly affluent areas like downtown Menlo Park and Los Altos. The locality, characterized by high income levels and stringent development controls, has been witnessing an increase in demand for mixed-use properties, with Machado having previously sold around 15 buildings in the area. This trend suggests continued interest from investors in affluent downtown regions.