Almarida Place is a rare, Silicon Valley leasehold shopping center anchored by Kohl’s and Bed Bath & Beyond. Located at the foot of Highway 17’s Hamilton Avenue off-ramp, Almarida Place features excellent visibility, exceptionally high traffic counts, and great access.
According to Steve Jaeger of Argonaut Investments, “we were attracted to this project because of the irreplaceable real estate located in the Central Silicon Valley.” Argonaut Investments focuses on the acquisition, management and redevelopment of neighborhood and community shopping centers throughout the western United States.
Chris Kostanecki and Jack Navarra of CPSF served as the lead brokers on the transaction. “This property was a unique opportunity. The property held a leasehold position, had high leverage in-place financing, and attractive economics to compensate for the risk,” says Chris Kostanecki, CPSF Managing Partner.