Bay Properties Acquires Santa Clara’s Safeway-Anchored Shopping Center for $16MM

In a recent transaction in Santa Clara, Bay Properties acquired the University Shopping Center, a Safeway-anchored retail park, for $15.91 million, or around $409 per square foot, which is significantly below its initial asking price of $20 million, or $513 per square foot, at 4.02 cap rate. The two-parcel property, located at 2565 and 2555 […]