The Alameda | Santa Clara | California

2655 The Alameda, Santa Clara, CA

IN CONTRACT

$20,000,000

Price

3.14%

Cap Rate

$628,096

NOI

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Street
Map
Overview
Cap Rate
3.14%
NOI
$628,096
Building Size
38,964 sqft
Lot Area
2.93 acres
Year Built
1968
Zoning
CC
Parking Spots
149
Investment Strategy
Core Plus
Description

Maven has been engaged as the exclusive listing agent for University Shopping Center, a trophy shopping center adjacent to Santa Clara University in the heart of California’s Silicon Valley. Anchored by Safeway, the Center is 100% leased and consists of a 31,076 SF Safeway (with an in-store Starbucks), Taco Bell, Round Table Pizza, and Wicked Chicken. All tenants have been in place for at least 10 years.

With its premier location, strong tenant mix and affluent neighborhood demographics, University Shopping Center provides buyers with a trophy property and an attractive investment. Competitive grocery stores are located well over a mile away and the nearby populations of students, renters and homeowners are well served by the Center’s amenities. Triple-net leases allow for easy management and passive cash flow, while annual escalations and percentage rents deliver potential for solid rental growth.

Highlights
  • Stabilized shopping center – 100% occupied with next lease expiration in December 2026
  • Anchored by a 31,076 SF safeway
  • Safeway consistently paying percentage rent
  • Safeway term expires 12/27 with two 10-year options
  • Substantial rental upside
  • NNN Leases with rent escalations and percentage rent income
  • Located immediately adjacent to Santa Clara University
  • Next large grocer over 1 mile away
  • Highly visible location at the intersection of The Alameda and El Camino Real
  • Close proximity to Freeways 101, 680, 880 and 280
  • Large 127,674 SF parcel with long term development opportunity
Documents
Title
Offering Memorandum
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Location
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