Part of Mountain View mixed village bought
Safeway store parcel draws interest from Boston investor
MOUNTAINVIEW>> A big chunk of a prominent mixed-use village in Mountain View has been bought by an East Coast company that is one of the nation’s largest real estate investors.
A section of The Village at San Antonio Center has been bought by TA Realty, which obtained a 5.4acre parcel at the corner of East El Camino Real and South San Antonio Road, according to documents filed on Aug. 31 at the Santa Clara County Recorder’s Office.
Boston-based TA Realty, acting through affiliate TA San Antonio Center, paid $77.1 million for the property, the county documents show.
The just-bought parcel includes a Safeway supermarket, Mizu Sushi Bar & Grill, The Counter hamburger restaurant, Jared jewelry store and a T-Mobile cell phone site.
The seller was an affiliate controlled by San Francisco-based Merlone Geier, a real estate firm that in recent years has undertaken a wide-ranging and dramatic redevelopment of an old shopping center at that location.
This week’s deal marks the second time in 2021 that Merlone Geier sold a large section of The Village at San Antonio Center.
In March, Merlone Geier sold a portion of the mixed-use village to Brookfield Properties in a megadeal valued at $630 million, county documents show.
The earlier transaction in March involved two big office buildings that have been leased to Facebook, a building that includes the Showplace ICON Mountain View movie complex with 10 screens, and a parking structure.
Separately, Merlone Geier has proposed the development of a mixed-use office building with ground-floor retail at the corner of California Street and South San Antonio Road, documents filed with Mountain View officials show.
The purchase of the Safeway and restaurant property by TA Realty is an indication that top-notch investors continue to hunger for an array of commercial properties in Silicon Valley.
Office, retail, restaurant, industrial and apartment sites have drawn a steady stream of interest throughout 2021, even in the wake of the coronavirus.