Strawflower Village Irreplaceable Safeway-Anchored Center - SF Peninsula

Cushman & Wakefield ,as exclusive advisor, is excited to present to the market the opportunity to acquire Strawflower Village Shopping Center (“Strawflower Village” or the “Property”). Strawflower Village is a 97% leased, 78,827 square foot, grocery anchored neighborhood shopping center located in Half Moon Bay, California, a bedroom community that is an integral part of the San Francisco Peninsula.

The Property is anchored by a very high volume Safeway. CVS pharmacy, though not a part of the offering (“NAP”), provides additional anchor drawing power to the Property. National in-line tenants include Round Table Pizza, Starbucks, H&R Block, The UPS Store, US Bank and McDonalds (NAP). In almost all cases, the Property’s tenants, national and local, have long occupancy histories, reflecting their success in Strawflower Village’s supply-constrained trade area. In addition, almost all tenants represent their respective retailers’ only store in the Half Moon Bay market area.

The Property’s Safeway market is the only national grocer present in Half Moon Bay. Very significant development constraints, not the least of which is presented by the approval processes of the California Coastal Commission, suggest that Strawflower Village should remain protected from the development of new competition well into the future.

Strawflower Village will provide an investor the highly-dependable, high-quality, stream of income that results when a shopping center possesses a dominant position in a higher income, supply-constrained trade area.

FINANCIAL SUMMARY
Offering Price:	BEST OFFER
Projected Year 1 NOI:	$1,454,467
Projected Year 3 NOI:	$1,499,671
Projected Year 5 NOI:	$1,603,585

INVESTMENT HIGHLIGHTS

• 97% leased Grocery/Drug anchored Center
• San Francisco Bay Area location
• Anchored by a very-high-grossing Safeway Market
• Impressive tenant sales and attractive tenant health ratios
• Sole market-area location for every tenant
• Very limited grocery competition in direct trade area
• Impressive occupancy history
• Extremely strong barriers to entry of new competition
• Easy access and great visibility
• Offered free and clear of in-place financing

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