CUSHMAN & WAKEFIELD is excited to present the opportunity to acquire Hopyard & Owens Center, a 100% leased, 13,281 SF retail strip center in Pleasanton, CA. The WALT is 6.6 years, there is no scheduled lease rollover until 2029, and Ownership recently invested in a complete remodel.
Properties with locations like this within communities like Pleasanton RARELY ever come up for sale. The previous owner held this property for nearly 40 years!
This Property is special because it is at Main and Main - surrounded by Mercedes, Chick-fil-A, Starbucks, I-580, and BART. This is where tenants want to be!
Investment highlights;
Stability of Income - 100% leased retail strip center in Pleasanton, CA.
Bullseye Location - Positioned just off I-580 and surrounded by national retailers.
Exterior Remodel Recently Completed
Strong Tenant Demand - The units are small, which makes them easy to lease and attracts higher rents per foot.
84% of GLA is Restaurant/Food - Shows heavy investment in infrastructure.
Long-Term Tenants - The two largest tenants in the multi-tenant shops building have both been in occupancy for 35+ years.
Leasing Momentum - Executed six new leases in the past two years, equating to 65% of the Property’s total square footage.
Upside Opportunity - All renewal options are at FMV, so there is no cap on an investor’s upside.
5.8/1,000 SF Parking Ratio - Increases to 7.0/1,000 if including 16 shared spaces on the Burger King parcel.
Demographics - Within 3-miles, there are nearly 125K people and average HH incomes exceed $253K.