Sale of trophy Trader Joe’s-anchored retail center in the San Francisco Bay Area closed by HFF
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.”
About Donahue Schriber
Donahue Schriber is a privately held real estate investment trust (REIT), which owns and operates 66 shopping centers representing over 10 million square feet of retail space throughout California, Nevada, Oregon and Washington. For more information about the company, visit its website at www.DonahueSchriber.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.