LOS ALTOS, Calif.--(BUSINESS WIRE)--A 50,451-square-foot retail property occupied by Whole Foods Market in Los Altos (Silicon Valley), California has sold for $55 million. Imperial Hornet Developers, LLC acquired the freestanding property located at 4800 El Camino Real, one of the region’s primary thoroughfares, from Compass Grand Associates, LLC.
Investment specialists Kevin Held and Matt McNeill with Cushman & Wakefield represented the buyer in the transaction. The duo worked with Ron Goldie, a Los Angeles-based attorney who specializes in acquisitions, portfolio management, and dispositions for urban core, Class A real estate for high net worth private clients, and who acted as an investment advisor in leading negotiations for the buyer.
“This is an irreplaceable, single tenant asset and a generational investment opportunity in the epicenter of one of the best economies in the world,” said Mr. Held, Vice President. “The property was originally developed as a prototype build to suit for Whole Foods in an area with extremely high barriers to entry and strong market fundamentals.”
Situated on 2.41 acres, the building provides excellent frontage and high visibility along heavily-traveled El Camino Real. Located at a signalized intersection, it also provides exceptional access, allowing entry from both directions of traffic. The store features dual entry on the ground floor, as well as two levels of subterranean parking.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Source: Cushman & Wakefield