With cap average cap rates falling between 5.6% to 6.9%, investors can acquire high credit tenants at a relatively higher yield.

Federal Realty Investment Trust recently sold an 11.7-acre portion of San Antonio Center that was under threat of condemnation, as it is needed for a school being built by the Los Altos School District.

The approval includes the large project authorization for the design and massing of the approximately 820,000-square-foot project, as well as an initial allocation of 505,000 square feet under Prop M.

The building's projected cost will be approximately $85 million.