San Jose, CA – July 25, 2012 – Meacham/Oppenheimer CORFAC International announced today that a new Walmart Neighborhood Market is going into Evergreen Village Square near the corner of Aborn Road and Ruby Avenue in San Jose.
Walmart will occupy a vacant 40,950-square-foot retail site that has been empty since a Lunardi’s market exited in 2007. Property owner Shapell Properties was represented by Meacham/Oppenheimer Principals Mike Messinger and Josh Gispan in the 10-year lease. Financial considerations in the transaction could not be disclosed.
Walmart has started to renovate the interior space and expects to open early next year. The new store would employ up to 95 people once open and operating. The giant retailer said that the its neighborhood market format reflects its move to open more grocery-oriented, ‘express’ stores.
Evergreen Village is comprised of approximately 165,000 square feet and includes a community center, offices, retail stores, restaurants, entertainment outlets and the anchor grocery store that is designed around a central square. The village serves as the commercial center for more than 4,000 single-family and apartment homes on the 865-acre master-planned community in the eastern foothills of San Jose.
About Meacham/Oppenheimer CORFAC International
San Jose, CA-based Meacham/Oppenheimer CORFAC International is a full-service commercial real estate brokerage and property management company serving Silicon Valley and all 13 Bay Area Counties from its San Jose headquarters. Earlier in its 30-plus-year history Meacham/Oppenheimer Inc. focused on retail brokerage and development and later expanded its services to include office, industrial, R&D and land brokerage services, representing both owners and tenants in property leasing and investment sales. Meacham/Oppenheimer is the official Silicon Valley affiliate of U.S.-based CORFAC International (Corporate Facility Advisors) with capability to serve its clientele in 150 markets worldwide. For more information call 408.378.5900 or visit www.moinc.net
About CORFAC International
CORFAC International (Corporate Facility Advisors) is distinguished by the way it manages multi-market commercial real estate assignments on behalf of corporate entities and privately owned companies. U.S.-based CORFAC is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services in North America, with coverage in South America provided by Panama-based Latin American Corporate Property Services. A Principal Member of FIABCI – the International Real Estate Federation with global affiliates in Europe and Asia, CORFAC International offers commercial real estate services with market reach in 65 countries worldwide. In recent years, CORFAC firms have averaged 10,000 completed transactions annually encompassing nearly 100 million square feet and valued at more than $6 billion. For more information on CORFAC, contact 703.532.6160 or visit www.corfac.com.