Shopping Centers for Sale in Santa Clara County
525 E. Hamilton Ave Campbell, CA 95008 (Santa Clara County)
Almarida Place
Price | $27,750,000 | Property Use Type | Investment |
Gross Leasable Area | 149,517 SF | Cap Rate | 7.50% |
Price/SF | $185.60 | Tenancy | Multiple |
Property Type | Retail | Lot Size | 7.98 AC |
Property Sub-type | Regional Center/Mall |
*Almarida Place is a 149,517 SF promotional center anchored by Kohl’ s and Bed, Bath & Beyond on long term leases
*Kohl’ s and Bed, Bath & Beyond are high-identity, nationally recognized retailers that draw patrons to the center from a large radius in the region
*Stable, high-quality income stream Freeway exit off ramp flows directly to this site
*Shop space frontage and monument sign to primary retail street (Hamilton Avenue)
*Direct freeway visibility, access, and pylon signage
*Large parking fields for anchors and inline tenants with potential developable pad space fronting Almarida Drive
*61-year ground lease with 50 years of term remaining
*Extremely vibrant local economy
*Highly sought-after demographics/concentration of income in trade area
*More than 145,000 employees work within 3 miles and more than 338,000 employoees work within 5 miles of Almarida Place
*More than 31,000 people within a 1 mile radius, with average household income of $101,132
*More than 241,761 people within a 3 mile radius, with average household income of $115,355
*More than 585,018 people within a 5 mile radius, with average household income of $120,517
*Extremely high barriers to entry due to lack of developable land and low retail turnover/vacancy in Campbell-San Jose market area
*Limited direct competition in immediate and surrounding trade area
*Synergy of additional intersection anchors resulting in added retail draw
*Excellent freeway visibility and access with over 160,000 cars per day on US Highway 880/17
*Positive synergy with other local retail centers
*Nationally recognized co-tenants in the trade area include Whole Foods, Trader Joe’ s, Staples, Home Depot, Marshalls, Ross Dress For Less among others