Del Monte Shopping Center_Property for Sale
Del Monte Shopping Center_Property for Sale
1410 Del Monte Ctr, Monterey, CA, 93940-6168, US

Del Monte Shopping Center

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in Del Monte Shopping Center (the “Property” or “Del Monte”), a super-regional shopping center encompassing 675,088 square feet on ±47 acres of irreplaceable real estate in Monterey, California.


Del Monte Shopping Center is 82.7% leased to a diverse and complementary lineup of national and credit tenants including Whole Foods, Apple, Macy’s, Sephora, Lululemon, Columbia Sportswear, Petco, Rite Aid, Century Theatres, Williams Sonoma, Pottery Barn, Banana Republic, H&M, and other unique-to-market retailers. The Property offers durable in-place cash flow with immediate opportunities to add value through repositioning of underutilized suites and place-making throughout the asset. Del Monte sits at the gateway to the Monterey Peninsula along Highway 1. Its ideal location provides a super-regional draw and exceptional foot traffic from both tourists and the surrounding communities.


The Property’s massive 47-acre footprint presents a landmark opportunity to acquire scale in an extremely high barriers to entry coastal market.

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Attributes

Building area gross
62,718 m²
Land area gross
19.02 ha
Occupancy
82.7%
Year built
1967
Year renovated
2015
Parking spaces
2,577
Investment strategy
Value Add

Media

Investment Highlights

  • Anchored by Extremely High Performing Whole Foods
  • Coastal Shopping Center with Immediate Value-Add Upside
  • Rare Opportunity to Control 47 Acres of Land in a Severely Supply-Constrained Submarket
  • Bullseye Location Drawing Traffic from the Entire Monterey Peninsula
  • Attractive Basis & Significantly Below Replacement Cost
  • Unique-to-Market Tenancy & Strong Sales Performance
  • Significant Tourist Draw with Over 4.6M People Visiting the Monterey Peninsula Annually
Del Monte Shopping Center 4_Property for Sale
Del Monte Shopping Center 4_Property for Sale

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Del Monte Shopping Center (0 Properties)

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Last updated
13 Jun 2024