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888 East Los Angeles Avenue...

Safeway Leases Retail Space In Market Park Shopping Center, San Jose
LEASEDRetail

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.

Players

S
SafewayTenant

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