Centre Place I | 1231-1255 S California Blvd
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Centre Place I 1231-1255 S California Blvd
17,707 SF 100% Leased Office Building Walnut Creek, CA 94596 £15,010,190 (£848/SF) 5.78% Net Initial Yield
Investment Highlights
- Charles Schwab (S&P rated A+) anchored 4-tenant NNN investment
- Assumable I/O debt: $14.3m interest only (75% LTV) at 5.242%, maturing 12/31/2026
- High-traffic intersection: S. California Blvd and Olympic Blvd (47,771+ CPD)
- Habit Burger #21/370+ restaurants, nationally ranked per Placer.AI
- Long term NNN leases with a WALT of 7 years and 10 months
- Easy freeway access to I-680 and Hwy 24
Executive Summary
Newmark is pleased to present the opportunity to acquire Centre Place I, an ±17,707 square foot, net-leased retail center at 1231-1255 S. California Blvd. in Walnut Creek, California.
Anchored by Charles Schwab’s flagship retail banking branch and The Habit Burger Grill (#21 in the portfolio as reported by Placer AI).
The fast-casual food tenants’ benefit from high daytime populations (120,000+ within 3 miles) and affluent demographics (avg. household income of $158,175 within 3 miles) which support strong sales. Habit Burger has been immensely successful at this location with sales volumes well above $1,000 per square foot.
Walnut Creek is home to some of retail’s premier luxury tenants including Apple Store, Tiffany and Co., Tesla, Vineyard Vines, Restoration Hardware, and Life Time Fitness. Just two blocks from the property, Macerich Properties’ Broadway Plaza (anchored by Nordstrom, Macy's, Apple Store, and Life Time Fitness) highlights Walnut Creek’s retail core and is widely considered the East Bay’s retail crown jewel.
Anchored by Charles Schwab’s flagship retail banking branch and The Habit Burger Grill (#21 in the portfolio as reported by Placer AI).
The fast-casual food tenants’ benefit from high daytime populations (120,000+ within 3 miles) and affluent demographics (avg. household income of $158,175 within 3 miles) which support strong sales. Habit Burger has been immensely successful at this location with sales volumes well above $1,000 per square foot.
Walnut Creek is home to some of retail’s premier luxury tenants including Apple Store, Tiffany and Co., Tesla, Vineyard Vines, Restoration Hardware, and Life Time Fitness. Just two blocks from the property, Macerich Properties’ Broadway Plaza (anchored by Nordstrom, Macy's, Apple Store, and Life Time Fitness) highlights Walnut Creek’s retail core and is widely considered the East Bay’s retail crown jewel.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
17,707 SF
Building Class
B
Year Built
2010
Price
£15,010,190
Price Per SF
£848
Net Initial Yield
5.78%
NOI
£867,011
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
8,854 SF
Slab to Slab
10 ft
Building FAR
0.61
Land Acres
0.67 AC
Zoning
C-R - Central Retail
Parking
17 Spaces (0.56 Spaces per 1,000 SF Leased)
1 of 1
Walk Score ®
Walker's Paradise (94)
-
Mike Zylstra -
Forrest Gherlone -
Max Gunari -
Newmark
1 of 5
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Centre Place I | 1231-1255 S California Blvd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.