Please Wait ...

Value Add Community Shopping Center on Hard Corner of Busy Thoroughfare

 

RealINSIGHT Marketplace and NKF Capital Markets Private Capital Group are pleased to offer the opportunity to acquire the fee simple interest in Century Center (the “Property”), a 214,389 square-foot grocer anchored community shopping center located in Modesto, California. The seven-building, single-story retail center was delivered in 1979 and sits on 17.86 acres.

 

Century Center is located on a hard corner at the busy intersection of Oakdale Road and East Orangeburg Avenue. The Property is a well-known retail center with great visibility along a high-traffic major thoroughfare (33,419 VPD – Oakdale Rd). The Property has a well-defined trade area, with natural barriers to the south and east, as well as minimal competition or threat of new supply. Additionally, Century Center is located in a densely populated area with an abundance of rooftops in almost every direction.

 

The Property is anchored by a Raley’s (dark), as well as an MB2 Racecar (50,000 SF), with a Planet Fitness sub-anchor (23,240 SF). Raley’s has been dark for several years and operates another location approximately 1.2 miles northeast of the Property. The remaining tenancy consists of an attractive mix of internet-resistant, needs-based, and experience-based retailers that include several national tenants such as Pizza Hut, Jamba Juice, UPS Store, JP Morgan Chase Bank, GNC, and Vision Works Optometry. As of May 2018, the Project’s economic occupancy was 81.4% with 58% physical occupancy.

 

Century Center presents the opportunity to acquire a well-established community shopping center with a prime location on a hard corner of a high-traffic intersection. A sophisticated investor will add value by upgrading the visual appeal of the center, leasing up the remaining vacancy, and backfilling the dark anchor space.

Login required to access due diligence materials.

All investors who are interested in engaging Holliday Fenoglio Fowler, L.P. (“HFF”) and CW Capital Markets (“CW”) (collectively “HFF/CW”), a financial intermediary, to assist in arranging financing for the property should contact Brock Cannon at HFF, L.P. via email (bcannon@hfflp.com) or by phone at (212) 632-1808.


Throughout the marketing period HFF will provide investors with real time debt quotes from various capital sources. It is to the investor’s benefit to contact Brock Cannon early in the process in order to discuss all available terms, along with the advantages of engaging HFF/CW on the financing versus completing an all-cash acquisition.

 

Benefits of Engaging HFF/CW In Arranging Financing Include:

  • Transparency: Continued transparency in the debt capital markets for the subject opportunity based on real time conversations HFF is having with lenders
  • Access to Property: Lender will have access to the property, post contract, to complete their diligence prior to closing
  • Financing In Place: Allows the investor to close with financing in place

 

Note: Benefits referenced above will only be made available to investors who engage HFF/CW prior to the auction start date. It is recommended that investors contact HFF early in the process.


HFF’s Debt Placement Services

As a leading mortgage banker in the U.S., HFF’s extraordinary transaction volume provides the unparalleled capital markets knowledge necessary to develop the most creative financing strategies to meet and exceed client expectations.  Our established relationships with insurance companies, investment banks, foreign and domestic banks, a Fannie Mae lender, Freddie Mac and pension funds have allowed us to provide our clients with the most competitive terms and most reliable executions in the debt and equity market.

Loan Types HFF Assists With Include:

  • Fixed-rate loans
  • Construction loans
  • Forward loans
  • Tax-exempt loans
  • Floating-rate loans
  • Construction/permanent loans
  • Bridge/acquisition loans
  • Credit-tenant lease transactions

 

HFF’s 2017 Commercial / Multifamily Annual Origination Rankings per the MBA:

  • #1 Total Loan Originations
  • #1 Intermediary
  • #1 Insurance Company Originator
  • #1 Credit Company Originator
  • #1 Originator for Third Parties
  • #1 Total Direct Originations
  • #1 Seconds/Mezzanine/Preferred Equity Structures

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Century Center - Modesto, CA

2401 East Orangeburg Ave., Modesto, CA 95355

Please login for bidder registration.

Current Bid:
Starting Bid:

Asset Snapshot

  • Asset Type
  • Real Estate
  •  
  • Retail Type
  • Community Center
  • Anchor
  • Yes
  • Property Size
  • 214,389 Sq Ft
  • Land Area
  • 17.86 Acres
  • Year Built
  • 1979
  • Number of Floors
  • 1
  • Number of Buildings
  • 7
  • Parking Count
  • 738
  • Occupancy
  • 81.37%
  • Occupancy as of
  • May 31, 2018
  • Platform Fee

    Platform fee for this transaction is 5.00% or a minimum of $25,000.

  • Auctioneer

    1. Emilio Lemeni

      c/o Fisher Auction Company Inc.

      License: #00961384