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| Lillian Roos |
San Francisco, CA – JLL Capital Markets has arranged the $20.5 million refinancing for Almaden Safeway Center, a 143,452-square-foot, grocery-anchored retail center located in San Jose, California.
Almaden Safeway Center, a 143,452-square-foot,
grocery-anchored retail center located in San Jose, CA
JLL worked on behalf of the borrower, Brothers International Holding Corporation, to secure the ten-year, fixed-rate loan through RGA Reinsurance Company.
Bruce Ganong
Almaden Safeway Center is spread across three buildings on 11.60 acres and features a WALT of 7.2 years.
The center is 100% occupied by 10 tenants, including its high-performing anchor, Safeway, as well as JoAnn’s Fabrics, McDonald’s, T-Mobile and Savers. Major national tenants make up 95% of the GLA.
Located at the highly visible intersection of
Almaden Expressway and Cherry Avenue, the property is just 0.1 miles from the
85 Freeway, providing access to downtown San Jose, Campbell and Los Gatos, as
well as the population of 500,000 within a five-mile radius.
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| Matthew Mingrone |
The center also benefits from the foot traffic of six neighboring shopping centers, which include a Bass Pro Shops, Whole Foods, Walmart and Best Buy.
Additionally, within a three-mile radius
of the property is an average household income of $161,000.
CONTACT:
Jenna Sharp
JLL,
Public Relations
Dallas,
Texas
M
+1 214 394 3356