SAN JOSE, Calif. (January 21, 2015) – SRS Real Estate Partners announced today that it brokered a controlling interest in the San Antonio Shopping Center in Mountain View, Calif., based on a total value of $62.2 million on behalf of its client, Federal Realty Investment Trust. Located at the well-trafficked intersection of W. El Camino Real and San Antonio Road, the 376,000-square-foot Walmart-anchored shopping center serves the prosperous Silicon Valley communities of Palo Alto, Mountain View, and Los Altos. In addition to Walmart, the shopping center is home to over 30 regional, national and local retailers, including Trader Joes, Kohl’s, 24 Hour Fitness, and JoAnn Fabrics.
San Antonio Shopping Center is well-positioned to draw additional shoppers as the area’s many high technology companies such as Google and LinkedIn continue expanding. Additionally, two separate mixed-use projects directly across from San Antonio Shopping Center, The Village at San Antonio and Colonnade, should also fuel the shopping center’s attraction. Phase II of The Village at San Antonio will consist of 500,000 square feet of office space, 106,000 square feet of retail, a 165-room hotel and a cinema. Colonnade will offer 12,000 square feet of commercial/retail and 167 luxury apartments.
“San Antonio Shopping Center has been on our radar screen for some time due to the size of the property, strength of this trade area and long-term potential,” Jeff Berkes, Federal Realty’s West Coast president, said in a statement. “With exceptional access to some of the Bay Area’s most critical roadways and mass transit, we expect this property will deliver immediate value as well as opportunities for significant long term appreciation.”
Randol Mackley and Bruce Frazer with SRS Real Estate Partners represented the buyer, Federal Realty Investment Trust, in the transaction, which closed Jan. 8, 2015. The seller was a private family trust.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, investment services and management services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com/san-francisco.
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