Sunnyvale retail center deals top $80M

SUNNYVALE >> Two Sunnyvale retail centers have been bought by Southern California investors in a pair of deals that allow a local family to whittle down its Silicon Valley real estate holdings.

Hacienda Shopping Center and Bell Plaza, both on East El Camino Real in Sunnyvale, have been bought by affiliates controlled by Los Angeles-based Balboa Real Estate Partners, according to Santa Clara County public records.

The sellers were groups headed by members of the Margaret Bellomo, Christopher Bellomo and Victor Bellomo family in Sunnyvale, county documents show.

Hacienda Shopping Center, located at 785 E. El Camino Real in Sunnyvale, totals 173,000 square feet, is anchored by a Safeway supermarket and Michaels crafts store and also includes a Starbucks and a Jamba.

“The location of Hacienda Center is great. It is phenomenal real estate,” said John Machado, an executive vice president and retail expert with Colliers International, a commercial real estate firm. “The true value of the property is the real estate.”

Bell Center, at 1040 E. El Camino Real, totals 20,000 square feet and includes a Fitness 19, Supercuts, Subway, and Sawa Sushi.

All told, Balboa Retail Partners paid $81 million for the two retail centers, according to the county records.

Hacienda Shopping Center was bought for $68 million and Bell Center was bought for $13 million, Santa Clara County public records show.

The transactions involving

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