The Mariposa Shopping Center, which is located at the southeast corner of Homestead Road and Kiely Boulevard in Santa Clara, was constructed in 1965. The mall is situated on approximately 10 acres and encompasses 126,576-sf of rentable retail space. The sale price of $17.4 million comes out to about $137 per sf.
The property's anchor tenants include Safeway, Longs Drugs and Ross. Safeway is currently completing an expansion from 34,782-sf to 43,202-sf, which will bring the center's total space to 132,929-sf.
James Finch and Chris Kostanecki of Marcus & Millichap brokered the deal on behalf of the seller, Boston-based Fifty Associates and Demartini Trust of Marin County, and the buyer, Crow Holdorp, was self-represented.
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