Overview

Description

SRS Capital Markets is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in Crossroads Shopping Center, a FoodMaxx
(The Save Mart Companies) shadow anchored center located in Fremont, California (San Jose MSA). The center is 87% occupied providing a potential upside to a new investor through lease up. Over 73% of the GLA is occupied by tenants with 10 or more years of historical occupancy, demonstrating the strength of the site. The center consists of a diverse, ecommerce resistant tenant lineup comprised of retail, restaurant, and service tenants, creating a stabilized income stream for a future investor. The asset is shadow anchored by a FoodMaxx that ranks in the top 88th percentile per Placer.ai. The Save Mart Companies has over 200 locations across California and Nevada and is headquartered in the heart of California’s Central Valley.

The Center is strategically located at the signalized, hard corner intersection of Walnut Avenue and Fremont Boulevard which serves over 49,000 vehicles per day. Moreover, the site benefits from nearby access to Interstate 880, making this an ideal, centralized location with easy commutes. The asset is adjacent to Fremont Hub, a 627,000 SF power center with a robust tenant lineup which includes Target, Safeway, Dicks, Ross, Trader Joes, Michaels, CVS, and more. Other nearby national/credit tenants include Home Depot, Whole Foods, Safeway, Raley’s, Big 5, Harbor Freight, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. Furthermore, the site is within close proximity from multiple apartment complexes including The Estates at Park Place (368 units), The Waterstone (526 units), The Asher (632 units), and more, providing a direct residential consumer base from which to draw. The 3-mile subject trade area is supported by more than 176,000 residents and 67,000 daytime employees who boast an extremely affluent average household income of more than $189,000.

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