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| Los Gatos Village Square Retail Center, Los Gatos, CA |
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| Nicholas Bicardo |
SAN FRANCISCO, CA, May 10, 2016 – Holliday
Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Los Gatos Village Square, a
100-percent-leased, 46,235-square-foot, Trader Joe’s-anchored retail center in
the San Francisco Bay Area community of Los Gatos, California.
HFF marketed the property
on behalf of an institutional seller. Donahue Schriber purchased the asset free
and clear of existing debt.
Los Gatos Village Square
is located along Los Gatos Boulevard, which is the most prominent commercial
thoroughfare in the city.
The property’s
infill, high barriers to entry location and outstanding demographics of the
region has driven a very high rate of tenant retention and historical occupancy
at the site, presenting an extremely stable cash flow.
Anchored by Trader Joe’s, Los Gatos Village
Square benefits from outstanding sales productivity from one of the most
dominant grocery brands in the country.
The HFF retail investment sales team
representing the seller was led by Nicholas
Bicardo, Danny Reddin and Brandon Rogoff.
“Demand for San Francisco
Bay Area retail continues to be at an all-time high,” Bicardo said. “Los Gatos Village Square generated interest
from every buyer profile, both domestic and offshore. Retail properties in Los
Gatos seldom come available for sale, making this a truly rare opportunity.”
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Director, Marketing
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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