Marcus & Millichap has been selected to exclusively market for sale Saich Way Station, a 15,673 square foot multi-tenant retail center in Cupertino, California. This offering represents the rare opportunity to acquire a newly constructed trophy retail asset located in one of the most affluent communities in the nation. Saich Way Station has an attractive mix of restaurant, retail, and personal service uses; current tenancy includes The Vitamin Shoppe, T-Mobile, The Melt, H&R Block, Blast 825 Pizza, Site for Sore Eyes, and The Coder School Cupertino. The property is ideally located at the northwest corner of Stevens Creek Boulevard and Saich Way between Target and Whole Foods. More than 31,000 vehicles pass the site each day along Stevens Creek Boulevard.
Saich Way Station has a total of 15,673 square feet of gross leasable area in two buildings and is situated on a 1.32-acre site. The improvements were constructed in 2015 and are in excellent condition. The retail space has been configured into two buildings, which creates four highly desirable end cap units at the property, in addition to the five inline spaces. The design of the center significantly increases the income potential of all spaces within the property. Additionally, the configuration of the buildings greatly improves circulation within the center and access to the property. The center is accessed from one curb cut along Stevens Creek Boulevard and two curb cuts along Saich Way. Parking is provided in a surface lot with 78 spaces, for a ratio of 4.98 spaces per 1,000 square feet.
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Saich Way Station is located less than one mile from Apple’s headquarters on De Anza Boulevard and is approximately two miles from the new 3.4 million square foot Apple Campus 2 on Wolfe Road. Apple currently has approximately 15,000 employees in Cupertino and will be doubling their employment in the city when the new campus opens in late 2016. The property is also one-half mile from De Anza College, which has an enrollment of 21,500 students. The close proximity of the property to major employers and a large college campus makes the center an ideal location for personal service tenants, convenience retailers, casual dining, and quick-service restaurants.
The property is located along Stevens Creek Boulevard, the primary commercial thoroughfare in Cupertino. There are several major retail developments in the immediate area, including a Target store located directly east of Saich Way Station and a Whole Food Market to the east of the development. A shopping center anchored by TJ Maxx, Party City, Home Goods, Sprouts Farmers Market, Pier 1 Imports, Staples, and Aaron Brothers is located directly south of the property. Regional access to the property is provided by State Highway 85 and Interstate 280. An interchange with State Highway 85 is located approximately one-half mile west of the subject property on Stevens Creek Boulevard. Interstate 280 is accessible from an interchange at De Anza Boulevard, located approximately one mile northeast of Saich Way Station. Stevens Creek Boulevard, De Anza Boulevard, and Stelling Road.