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1410 N California Blvd Waln...

Updated Oct 29, 2024

The Colorado Public Employees’ Retirement Association Acquires Walnut Creek's Midtown Plaza For $16.1M
SOLDRetail

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

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$16,100,000

$444/SF

Retail

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Players

NE
Nearon EnterprisesSeller
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Walnut Creek Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Deal FAQ

About $444 per square foot on a published $16.1M for 36,261 square feet (2023).

Browse California retail sales on Traded.

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

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