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10/16/15
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Dollinger Properties has moved forward with development of Sprouts @ Brokaw, a 143k sf retail project in San Jose. Dollinger obtained a $48.5 mil senior loan from PCCP LLC that has enabled them to start contruction on the center, which will be anchored by a 30k sf Sprouts Farmers Market, slated to open in the summer of 2016 upon completion.
Sprouts @ Brokaw is situated at the intersection of East Brokaw and Oakland Rd. When completed, the development will be an attractive grocery-anchored center in a strong Silicon Valley retail and office corridor. Additionally, it is within an affluent area that is seeing continued population growth and residential development activity.
Damon P. Scholl, Vice President of Development & Acquisitions for Dollinger Properties added: “We’ve received and are receiving tremendous interest in the center from fantastic restaurants and retailers with demand that well outweighs supply. We’re setting new market rents and anticipate that the center will not only be fully leased prior to completion of construction, but could be 100 percent leased by end of first quarter 2016.”
In 2013, Dollinger Properties built the, 96.3k sf Brokaw Commons retail center, which is fully occupied and is located directly across the street from the firm’s new project. Sprouts @ Brokaw will feature similar designs and finishes to the neighboring Brokaw Commons shopping center.
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