SAN FRANCISCO (November 12, 2012) – SRS Real Estate Partners announced today that Belmont Village Shopping Center, located at 1200 El Camino Real in Belmont, Calif., was purchased by a private investor for $5,675,000 at a 6.3% capitalization rate. The 8,054-square-foot property is located in Belmont’s popular trade area of El Camino Real and Ralston Avenue, and is anchored by Safeway, the dominant grocer in the neighborhood. Tenants in this pad building include AT&T, Peet’s Coffee, Gamestop, Supercuts, Toto’s and Menchie’s Frozen Yogurt.
The shopping center has the unique advantage of offering a competitive barrier to entry for its tenants’ competitors, as there are very few attractive sites on the San Francisco peninsula with such a strong location and anchor tenant, abundant parking, and ease of access.
Steve Gazzera and Mark Thomas of SRS Real Estate Partners represented the buyer in the transaction. Dan Ruebenstein of Ruebenstein Captial represented the property owner, Swire-Friedkin Group.