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Brothers International Holding Corp. secures $20.5m for grocery-anchored retail center in California
Transactions - FEBRUARY 1, 2024

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Brothers International Holding Corp. secures $20.5m for grocery-anchored retail center in California

by RELEASED

Brothers International Holding Corporation announced that it secured $20.5 million in refinancing for Almaden Safeway Center, a 143,452-square-foot, grocery-anchored retail center located in San Jose.

JLL worked on behalf of the borrower to secure the 10-year, fixed-rate loan through RGA Reinsurance Company.

Almaden Safeway Center is spread across three buildings on 11.6 acres and features a WALT of 7.2 years. The center is 100 percent occupied by 10 tenants, including its high-performing anchor, Safeway, as well as JOANN Fabrics, McDonald’s, T-Mobile and Savers. Major national tenants make up 95 percent of the GLA.

Located at the highly visible intersection of Almaden Expressway and Cherry Avenue, the property is 0.1 miles from the 85 Freeway, providing access to downtown San Jose, Campbell and Los Gatos, as well as the population of 500,000 within a five-mile radius. The center also benefits from the foot traffic of six neighboring shopping centers, which in

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