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2/24/17
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Whole Foods Market has signed a lease for a 52k sf grocery store in the heart of downtown Sunnyvale. The street-level store will anchor a retail project on the site of a mixed-use complex formerly known as Sunnyvale Town Center.
The retail project is scheduled to break ground later this year, and will open early 2019. It is being developed by STC Venture LLC, a joint venture of affiliates of Hunter Storm, Sares Regis Group of Northern California, and institutional investors advised by J.P. Morgan Asset Management.
Elsewhere in the 36-acre development acquired last year by STC Venture, construction is already underway. Sares Regis Group of Northern California is currently working to bring 198 residential apartments and 116k sf of future retail and restaurant space to market in 2018. The site is within a 10-minute walk to the Sunnyvale Caltrain station.
STC Ventures was represented by James Chung of Cushman & Wakefield. Whole Foods was repped by Matt Holmes of Retail West. Terms of the deal were not disclosed.
Other public improvements in the works for downtown Sunnyvale by STC Venture, LLC include the reopening of Redwood Square for public use this spring, the installation of new traffic signals, and the construction of landscaped medians.
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