Stop-N-Save in Mountain View, California
-- SOLD --
Date Acquired: May 2004
Location: 2105 Old Middlefield Way
Property Type: Retail
Property Description: One-story retail strip center
Year Built: 1988
The one-story, approximately 8,310 square foot strip center located along a busy street in Mountain View is home to six convenience-oriented tenants servicing 116,000 people in a three-mile radius and 281,00 people in a five-mile radius. The property is located at the intersection of Old Middlefield Road and Rengstorff, one-half mile away from the 101 Freeway with excellent frontage and accessibility. The property is constructed concrete slab-on-grade with concrete block walls and stucco exterior finish. It has a built-up roof system.
Mountain View is a dense, in-fill market with a strong economic base and affluent population. Average income per capita is $95,000 at a three-mile and five-mile radius. The major industry is technology-based, however, the economy is diversified to include all sectors of industry. The value of this center is its high visibility and excellent location in a matured market with very limited new development potential and barriers to entry.