El Gato Village, a shopping mall anchored by Nob Hill Meals, positioned at 15710 Los Gatos Blvd. in Los Gatos. A high-profile buying heart in Los Gatos that’s anchored by a widely known grocery retailer has been purchased by a Bay Space developer with wide-ranging actual property pursuits.
LOS GATOS — A high-profile buying heart in Los Gatos that’s anchored by a widely known grocery retailer has been purchased by a Bay Space developer with wide-ranging actual property pursuits.
El Gato Village, a Los Gatos neighborhood heart whose main anchor is gourmand grocery store Nob Hill Meals, was bought for $33 million, in keeping with paperwork filed on Feb. 15 with the Santa Clara County Recorder’s Workplace.
Along with the anchor Nob Hill Meals retailer, different retailers within the heart embrace Los Gatos Cafe Uptown, Una Mas Mexican Grill, PostalAnnex and Baskin-Robbins ice cream.
Prado Group is the brand new proprietor of the buying heart, which has addresses that embrace 15710 Los Gatos Blvd.
San Francisco-based Prado Group obtained a $21 million mortgage from First Republic Financial institution on the time of the acquisition, the county paperwork present.
“Prado Group is a privately held actual property funding and growth firm with a main give attention to city residential, retail, workplace, and mixed-use properties,” the corporate states on its web site.
One buying heart that seems to bear similarities to the just-bought El Gato Village is a retail web site at 3250 Lakeshore Ave. in Oakland. This East Bay heart is anchored by Dealer Joe’s.
Prado Group mentioned it took an interest within the Oakland retail heart as a result of the developer was alarmed that a sequence of short-term leases may create an excessive amount of churn and trigger retailers to exit the Lakeshore neighborhood.
“At the moment, Prado is in dialog with 3250 Lakeshore’s tenants, exploring methods to mix and lengthen their leases and protect the operation of this neighborhood retail area,” Prado Group said on its web site.
The corporate’s featured properties sometimes level to transformations of current websites, usually in refined methods.
“We search out, put money into, and develop for the optimistic evolution of the constructed setting,” Prado Group said on its web site.