Announces Offer Deadline Date for the Sale of Gilroy Crossings, Gilroy (Silicon Valley), California; An Approximate 473,640 Square Foot Power Center anchored by Target.
March 1, 2009. Newport Beach, CA
, a market leading investment real estate brokerage firm, announced today the offer deadline date for Gilroy Crossing, Gilroy (Silicon Valley), California. The Property is an approximate 325,431 square foot portion of a 473,640 square foot Power Shopping Center anchored by Target (Not a Part of Offering), Kohl's, Sports Authority, Ross Dress for Less, Bed, Bath & Beyond, Michaels, Barnes & Noble and PetsMart. The Property is located at the southeast quadrant of State Highway 101 and State Highway 152. The Property has direct, unobstructed visibility and immediate on/off access from both Highways and has an assumable, below market, fixed interest rate loan. Lucescu Realty has sold the Property on two prior locations; initially in 2005 for Regency Centers, who developed the Property, and again in 2006, when the existing Ownership purchased it for $88 million.
The Seller of the Property is a private investment Company with substantial real estate holdings throughout California, Oregon and Washington.