300 Venture Group Acquires Former JCPenney Site In Pleasanton With Nicholas Bicardo As Seller's Rep
1500 Stoneridge Mall Rd, Pleasanton...
Building Size
155,920 SF
Asset Type
Commercial
Closing
Nov 22, 2023
AI
The former JCPenney site at 1500 Stoneridge Mall Road in Pleasanton has been acquired by 300 Venture Group (3VG) along with its undisclosed capital partner. The 155,920-square-foot building is situated on 9.8 acres of prime real estate in a high-barrier-to-entry market.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: Not disclosed
- Location: 1500 Stoneridge Mall Rd, Pleasanton
- Market: Pleasanton
- Seller's Representative: Nicholas Bicardo (Newmark)
- Buyer: 300 Venture Group
- Square Footage: 155,920
Nicholas Bicardo of Newmark represented the seller in this transaction, aligning with 3VG's strategy of profitably repositioning assets to enhance their value and foster lively communities.
Players
Pleasanton Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93