Whole Foods Property in Heart of Silicon Valley Fetches $55 Million

LOS ALTOS, Calif. – September 17, 2018 – A 50,451-square-foot retail property occupied by Whole Foods Market in Los Altos (Silicon Valley), California has sold for $55 Million. Imperial Hornet Developers, LLC acquired the freestanding property located at 4800 El Camino Real, one of the region’s primary thoroughfares, from Compass Grand Associates, LLC. Investment specialists Kevin Held and Matt McNeill with Cushman & Wakefield represented the buyer in the transaction. The duo worked with Ron Goldie, a Los Angeles-based attorney who specializes in acquisitions, portfolio management, and dispositions for urban core, Class A real estate for high net worth private clients, and who acted as an investment advisor in leading negotiations for the buyer. “This is an irreplaceable, single tenant asset and a generational investment opportunity in the epicenter one of the best economies in the world,” said Mr. Held, Vice President. “The property was originally developed as a prototype build to [...]

Restaurateur Buys Downtown Danville Property for New Restaurant Opening, Cocina Hermanas

DANVILLE, Calif. – September 13, 2018 – A well located, high identity retail/restaurant property in downtown Danville, California located at 501 Hartz Ave. at Church St. has sold for $2.45 million. Cameron Baird of Cushman & Wakefield arranged the off-market acquisition of both the building and the business that was known as Basil Leaf Café for the buyer, Darren Matte, the owner of the acclaimed Per Diem in San Francisco and Harvest restaurant in Danville. The business was sold separately from the property. The seller was Genesis Holdings LLC and HJB Restaurant Group Inc., which was self-represented in the negotiations. Mr. Baird said, “Mr. Matte is an active member of the Alamo/Danville community and saw an opportunity to offer a greater selection of great food and hospitality to his neighbors and downtown shoppers. He will rebrand and remodel the location which will be named Cocina Hermanas after his three daughters.” Mr. Matte’s [...]

Woodland Crossroads Sells for over $18 Million

WOODLAND, Calif. – August 29, 2018 – Woodland Crossroads, a grocery-anchored promotional shopping center in Woodland (Sacramento Valley), California, has sold to a private capital investment group in Southern California for $18.045 million. Originally developed in 1985 with K-Mart as its anchor, Woodland Crossroads was substantially redeveloped in 2016 as a Grocery Outlet-anchored and regionally-drawing mid-sized box promotional center. The seller was Woodland Crossroads TIC – Engstrom Properties, which was represented in the transaction by Cushman & Wakefield’s Dan Wald and Don LeBuhn (The Wald | LeBuhn Team), both Executive Managing Directors with the firm’s Retail Investment Advisors Group. The buyers, affiliates of El Tigre Holdings, were represented by the Yorba Linda office of Keller Williams. In addition to Grocery Outlet, Woodland Crossroads features key retailers Ross, Party City, Harbor Freight and Tractor Supply as well as a number of successful in-line tenants. According to Mr. Wald, “Woodland Crossroads was ideally tenanted [...]

Rare San Rafael Redevelopment Property Sold to Local Investor

SAN RAFAEL, Calif. – August 28, 2018 – Marin Square, a strategically located mixed-use retail/commercial property in San Rafael (Marin County), California, has sold to locally-based Chelsea Pacific Group. Marin Square was first developed in 1984 as a neighborhood shopping center and was later expanded to include an office and multi-tenant commercial component. The seller was Sutter Health. Cushman & Wakefield’s Dan Wald and Don LeBuhn (The Wald | LeBuhn Team), both Executive Managing Directors with the firm’s Retail Investment Advisors Group, in partnership with Trevor Buck, Director in the firm’s North Bay office, represented the seller in the disposition. The buyer, which is based in nearby Tiburon, represented itself. According to Mr. Wald, “Sutter Health significantly enhanced the property’s value prior to sale by allowing below-market leases to expire and limiting the term of the property’s few remaining tenants.  In this way, the property could be offered as a blank canvas [...]

Scotts Village Shopping Center Sells for $15.35 Million

SCOTTS VALLEY, Calif. – August 2, 2018 – Scotts Village, a prominent neighborhood shopping center in Scotts Valley (Santa Cruz County), California, has sold to a Northern California-based real estate firm for $15.35 million. Anchored by Safeway and CVS, the shopping center comprises 121,296 square feet (sf) of retail improvements including several high-profile pad buildings occupied by Chase Bank, McDonald’s, and Taco Bell. Scotts Village was developed in 1984 on a leasehold interest. Cushman & Wakefield’s Dan Wald and Don LeBuhn (The Wald | LeBuhn Team), both Executive Managing Directors with the firm’s Retail Investment Advisors Group, represented the seller, The Pratt Company.  The buyer, McNellis Partners, which is based in Palo Alto and Sacramento, represented itself. According to Mr. Wald, “Scotts Village enjoys great market share in Scotts Valley, which due to its proximity to both Silicon Valley and Santa Cruz, has become increasingly affluent.” He added, “The property offers the [...]