{"id":1004182949,"date":"2017-07-06T04:40:53","date_gmt":"2017-07-06T12:40:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004182949"},"modified":"2022-12-08T14:50:18","modified_gmt":"2022-12-08T22:50:18","slug":"nai-closes-bay-area-shopping-center-sale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nai-closes-bay-area-shopping-center-sale\/","title":{"rendered":"NAI Closes Bay Area Shopping Center Sale"},"content":{"rendered":"<p>By Ariela Moraru<\/p>\n<div id=\"attachment_1004182957\" style=\"width: 350px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Newark-Square-Shopping-Center-Newark-Calif..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004182957\" data-attachment-id=\"1004182957\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/nai-closes-bay-area-shopping-center-sale\/newark-square-shopping-center-newark-calif\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Newark-Square-Shopping-Center-Newark-Calif..jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Patricia Todoran&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1499269864&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Newark Square Shopping Center, Newark, Calif.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Newark Square Shopping Center, Newark, Calif.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Newark-Square-Shopping-Center-Newark-Calif..jpg?w=800\" class=\"wp-image-1004182957 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Newark-Square-Shopping-Center-Newark-Calif..jpg\" alt=\"Newark Square Shopping Center, Newark, Calif.\" width=\"340\" height=\"255\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Newark-Square-Shopping-Center-Newark-Calif..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Newark-Square-Shopping-Center-Newark-Calif..jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Newark-Square-Shopping-Center-Newark-Calif..jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 340px) 100vw, 340px\" \/><\/a><p id=\"caption-attachment-1004182957\" class=\"wp-caption-text\">Newark Square Shopping Center, Newark, Calif.<\/p><\/div>\n<p>NAI Northern California arranged the $13.6 million sale of Newark Square Shopping Center. The Bay Area office of\u00a0NAI Global represented both the buyer and the seller of the 50,047-square-foot center in this <a href=\"https:\/\/www.commercialsearch.com\/news\/life-storage-buys-two-california-facilities\/\">off-market transaction<\/a>.<\/p>\n<h2>Key\u00a0location lures tenants<\/h2>\n<p>Located at 5510-5650 Thornton Ave. on a 5.1-acre site, the six buildings expand\u00a0across\u00a0three separate parcels. Built in 1960, the center boasts\u00a0ample parking and prominent signage and hosts 26 tenants with below-market rents and long-term NNN leases. Tenants include franchises such as Taco Bell, Carl\u2019s Jr. and Check Center, which occupy their own separate retail pads, as well as Subway and Round Table Pizza.<\/p>\n<p>The property is less than one mile away from Interstate 880 and the intersection of Thornton and Cedar, which have an average daily traffic count of 21,548 cars. The asset is located in an area with more than 160,000 people within a three-mile radius with an average household income of $115,000.<\/p>\n<p><em>\u201cThe property is a neighborhood center with services that cater to the daily needs of the local population. With the projected continued growth of the Fremont-Newark corridor, it is expected that demand for these services will increase as the area draws more residents to its relatively affordable housing and its easily accessible location,\u201d<\/em> said the company\u2019s Vice President Mary Alam in prepared remarks. Alam and Investment Advisor Joshua Ballesteros represented both buyer and seller.<\/p>\n<p><em>Image courtesy of NAI <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company represented both the buyer and the seller of the 50,047-square-foot neighborhood center in Newark, Calif., in this off-market transaction.<\/p>\n","protected":false},"author":960,"featured_media":1004182957,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,21749,1609,15],"tags":[34229,33239],"class_list":["post-1004182949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-retail","category-san-francisco","category-west","tag-nai-global","tag-triple-net-lease"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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