Albany, CA - Town Centre Plaza

Description:

SRS Capital Markets is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in Albany Town Centre, a 24,712 SF, mixed-use, residential and commercial multi-tenant, value-add investment opportunity located in Albany, CA (Oakland-Hayward-Berkeley MSA). The property is currently 100% occupied with a diverse mix of medical, restaurant, retail, residential and daily needs tenants. All current commercial tenants operate on Gross leases, allowing an investor the ability to convert expiring leases to NNN where tenants will reimburse for their share of taxes, insurance, and CAM, and would provide a double digit growth in Net Income. Additionally, 8 of the 12 current retail tenants are paying below market rent, and holding over allowing an investor to acquire a property with significant value-add potential within the MSA, a thriving retail market.

The site benefits from excellent visibility, significant frontage, and easy access via multiple points of ingress/egress along both busy cross-streets. Albany Town Center is ideally positioned within the heart of a dense, growing retail/commercial corridor serving northwest Berkeley. The asset is situated just ¼ mile from UC Berkely’s University Village totaling ± 924 units with thousands of student residents providing a direct consumer base from which to draw.