Property Type: Multi-tenant retail
Metro: Bay Area
Size: 5,964 SF
Year Acquired: 2010
Going-in yield: 9.5%
IRR (net). 113% (realized, May 2011)
San Mateo | CA
Acquired and sub-divided a fee simple parcel of land located within the Bridgepointe Shopping Center in San Mateo, CA. This property was acquired directly from The Home Depot.
Develop-to-core. Purchased a property in a thriving power center in one of the top markets in the country. Constructed a multi-tenant retail building 100% leased upon acquisition to Chipotle Mexican Grill, Panda Express, Sports Clips and Nubi Yogurt.
Purchased a choice parcel of land through a proprietary relationship. Lease-up to top-tier tenants.