Safeway Leases Retail Space In Market Park Shopping Center, San Jose
888 East Los Angeles Avenue, Moorpark, CA 93021
Building Size
65,000 SF
Asset Type
Retail
Closing
Aug 1, 2018
AI
The Market Park Shopping Center located in San Jose has recently been leased. The 65,000-square-foot retail space was leased by Safeway at an asking rent of $72 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Date: 08/02/2018
- Address: Market Park Shopping Center, San Jose
- Tenant: Safeway
- Landlord: SJ Mercado Properties
- Tenant's Representative: SRS Real Estate Partners
- Landlord's Representative: Borelli Investment Company
The Market Park Shopping Center is part of the SJ Mercado Properties' 100,000-square-foot retail center. This retail center is located in Market Park, which is a $3 billion, 120-acre development in San Jose. The development includes 4,000 residential homes that are either built or currently under construction, according to the Market Park's website.
Moorpark Retail Market Snapshot
Boundary boundary · Retail · Lease 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