Colliers International Arranges $10MM Acquisition Financing for San Jose, CA Property

4070 – 4080 Stevens Creek Blvd. welcomes Wal-Mart Neighborhood Market

January 7, 2014, San Jose, CA – Colliers International has arranged $10 million in acquisition financing for 4070 – 4080 Stevens Creek Blvd. in San Jose, CA. This 69,780 square-foot retail building is 100% leased, and will be anchored by a Wal-Mart Neighborhood Market and GolfSmith.

Colliers Mortgage Brokers, Bob Kincheloe and Mandy Pakes worked on behalf of the borrower, a South Bay family fund, to secure long term-financing with a regional bank for the acquisition of the property. The financing is a non-recourse loan with 30-year amortization and a 10-year fixed rate term.

The building at 4070 – 4080 Stevens Creek is located in one of the busiest and most desirable retail areas in the South Bay, close to Santana Row and the Valley Fair Mall. The retail center was constructed in 1973 and Circuit City previously occupied the space. Today, Wal-Mart sees the formerly vacant space as an excellent opportunity to open a Neighborhood Market grocery store. The Wal-Mart Neighborhood Market will open in the Spring of 2014, joining long-term tenant, GolfSmith.

About Colliers International
Colliers International is a global leader in commercial real estate services, with over 13,500 professionals operating out of more than 482 offices in 62 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.

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