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| 1201 South Main St. |
IRVINE, CA – HFF announced today that it has secured joint
venture equity for the development of 1201
S. Main Street,(top left photo), a 200-unit, Class A multi-housing
community to be built in Milpitas, California.
HFF
worked exclusively on behalf of Shea Properties to arrange the joint venture
equity through The Resmark Companies.
Due
for completion in June 2014, 1201 S. Main Street will have studio, one- and two-bedroom
units averaging 913 square feet each.
Nine of the 200 units are designated as affordable units.
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| Mark Erland |
Planned community amenities include a sky terrace area,
business center, game room, fitness center, basketball court, outdoor pool and
spa, and barbecue areas. The 2.72-acre
site is located at the intersection of S. Main Street and Abel Street within
walking distance of a VTA light rail station and the future (2018) Milpitas
BART extension in Milpitas. 1201 S.
Main Street is also
close to employers such as Cisco and SanDisk, in addition to being adjacent to
the Great Mall, which features a wide variety of national retail options.
The
HFF team representing Shea Properties was led by directors Mark Erland (middle right photo) and Charles
Halladay.
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| Charles Halladay |
"Resmark was able to
understand Shea's vision for this project which will have market leading unit
interiors, amenities, and a design concept that will provide a high degree of
appeal. The Milpitas and North San Jose
market is benefiting from rapid high technology job growth, and 1201 S. Main is
poised to capture this ongoing strong tenant demand," said Erland.
Shea Properties, headquartered in Aliso Viejo, California,
is a diversified real estate company responsible for the acquisition, design,
development, construction and management of business parks, shopping centers,
apartment communities and mixed-use environments. www.sheaproperties.com.
Contact:
Kristen M. Murphy
Associate Director HFF
9 Greenway Plaza, Suite 700
Houston, TX 77046
tel 713.852.3500
cel 617.543.4873
fax
713.527.8725
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