After several years in the planning process, Saich Way Station broke ground in mid-July and is now rapidly rising in the heart of Cupertino’s most desirable retail area — directly across Saich Way from the Cupertino Target store and just down Stevens Creek Boulevard from one of the best-performing Whole Foods Market stores in North America.
The $10.4 million, 15,600 sq. ft. retail center has already attracted three strong tenants: anchor, Vitamin Shoppe, an international health and wellness retailer that is in a prime location on the corner of Stevens Creek Boulevard and Saich Way; Blast 825 Pizza, a competitor in the quick-fire, custom pizza category; and The Melt, a fast-growing chain of gourmet, grilled-cheese restaurants.
Borelli Investment Company has diligently worked on developing the sleek, low-profile retail center since an aging neighborhood center was destroyed in a fire in 2008. The property owner decided to engage in a joint venture with Borelli and rebuild it from scratch. Obtaining the necessary city approvals took a number of years. This past summer the final piece of the development process was put into place, with the securing of a $6.4 million construction loan obtained through Heritage Bank, so construction could begin.
Five ideal locations for retail shops remain — ranging in size from 840 sq. ft. to 3,200 sq. ft. (combining several spaces) — directly across from the Target parking lot. All will benefit from the high traffic volume on Saich Way and Stevens Creek Boulevard, as well as Cupertino’s compelling demographics with more than 70% of residents holding college degrees and average household incomes of over $137,000 — thanks to Apple and other technology employers. Retail space in Cupertino has a very low vacancy rate, making the shops at Saich Way Center excellent opportunities for retailers interested in serving the Cupertino market.
The comfortable, pedestrian- and bicycle-friendly design of Saich Way Center in Cupertino features the ample use of awnings and attractive exterior lighting, wide walkways, orchard-sized trees, a shaded outdoor sitting area, bicycle racks, and extensive landscaping. Ample parking will be available, both on street and in large parking lots that serve the Saich Way Center and an adjacent center with a Panera Bread and Peet’s Coffee & Tea. Anticipated completion of the center’s shell is scheduled for January 2015, with the stores opening in the first quarter of the year.
SiliconX Construction is the general contractor on the project. FCGA Architecture created the design and HMH Engineers handled the civil engineering. Interested retailers should contact Randol Mackley, senior vice president of SRS Real Estate Partners, at (408) 216-2316, or email firstname.lastname@example.org.
For additional information about Saich Way Center, please contact Larry Bengiveno, vice president of Borelli Investment Company, at (408) 453-4700, or email email@example.com.