Updated Oct 29, 2024
The Colorado Public Employees’ Retirement Association Acquires Walnut Creek's Midtown Plaza For $16.1M
1410 N California Blvd Walnut Creek, CA 94596, USA
$16,100,000
$444/SF
Building Size
36,261 SF
Asset Type
Retail
Closing
Aug 14, 2023
About this deal
AI
The Colorado Public Employees’ Retirement Association has purchased Midtown Plaza, a shopping and restaurant complex in Walnut Creek, for $16.1 million. The acquisition includes the 27,800-square-foot Midtown Plaza, located at 1410-1444 North California Boulevard, as well as adjacent properties. The complex features tenants such as PBK Premier Bath and Kitchen. The deal was facilitated by L&B Realty Advisors, a Dallas-based brokerage firm. The transaction reflects a price per square foot of $444.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $16,100,000
- Square Footage: 36,261
- Address: 1410-1444 North California Boulevard & Walnut Creek
- Market: Walnut Creek
- Buyer: The Colorado Public Employees’ Retirement Association - Amy McGarrity
- Seller: Nearon Enterprises
- Broker: L&B Realty Advisors
The Colorado Public Employees’ Retirement Association, represented by Amy McGarrity, acted as the buyer in this transaction. Selling the property was Nearon Enterprises. L&B Realty Advisors served as the broker facilitating the deal. The acquisition of Midtown Plaza bolstered the association's investment portfolio in the retail sector.
On the Map
$16,100,000
$444/SF
Retail
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Players
Walnut Creek Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93