Archives for December 2013

Sale of Pacific Commons Shopping Center in Fremont

SAN FRANCISCO, CA – December 11, 2013 – HFF announced today the sale of Pacific Commons Shopping Center, an 865,783-square-foot regional power center in Fremont, California.

Noted as one of the largest power centers in Northern California, HFF marketed the property on behalf of the seller, an affiliate of Catellus Development Corporation, a TPG Real Estate investment. Heitman purchased the asset which was subject to an existing loan.

Pacific Commons Shopping Center is located at the southwest corner of Interstate 880 and Auto Mall Parkway. Completed in phases between 2004 and 2006, the center is part of a larger approximately 1.2 million-square-foot retail development situated within an 840-acre mixed-use master planned community that also includes 1.1 million square feet of office/R&D and light industrial space, an 11-dealership auto mall, 440-acre wetland preserve and a 153-acre land parcel with entitlements for 3.4 million square feet of additional office, R&D and retail. Situated on 79.2 acres, Pacific Commons Shopping Center is approximately 97 percent leased and is anchored by tenants such as Lowe’s, Costco, Nordstrom Rack, TJ Maxx, HomeGoods, Staples, Kohl’s, DSW, Target (NAP) and Cinemark Century Theaters (NAP).

Read the rest of the story on The Register – here.

Golden Triangle Shines in North San Jose

By Robert Carlsen of The Registry

mapSJThe term “Golden Triangle” harks back to a mysterious and perilous Southeast Asian geography that defies time. It’s also a place that defies law being one of two primary locations in Asia where illicit drugs are produced.

There is a slice of Silicon Valley flanked by Highways 101, 237 and 880, and incorporating parts of Santa Clara, North San Jose, Sunnyvale and Milpitas that bears the same name. The golden moniker is an appropriate descriptor given the level of commercial, residential, retail, entertainment and hospitality real estate projects under way in this small region.

Major tech players such as Google, Cisco, Samsung and others are spreading out in rapid succession here. And they are just the tip of the proverbial iceberg.

According to San Jose Mayor Chuck Reed, the city put together a task force 20 years ago to study economic development opportunities in the fledgling Triangle, which was showing great promise in attracting burgeoning technology companies.

Read the rest of the article on The Registry here.