Overview

Highlights

• CHARLES SCHWAB (S&P RATED A+)
• ANCHORED 4-TENANT NNN INVESTMENT
• HABIT BURGER #21/370+ RESTAURANTS
• Nationally ranked per Placer.AI
• ASSUMABLE I/O DEBT - SUPERIOR TO CURRENT MARKET
• In-place debt of $14.3m interest only at 5.242%, maturing 12/31/2026
• LONG TERM NNN LEASES
• WALT (weighted average lease term) 7 years and 2 months
• HIGH-TRAFFIC SIGNALIZED INTERSECTION
• Strategically situated at signalized intersection of S. California Blvd and Olympic Blvd (47,771+ CPD)
• EASY ACCESS TO MAJOR TRANSPORTATION ARTERIALS
• with Excellent Freeway access to I-680 and Hwy 24
• MAIN AND MAIN LOCATION | STRONG DEMOGRAPHICS
• Over 202,000 residents with an average household income in excess of $159,000 in a 5-mile radius - Daytime population exceeds 98,000, providing additional consumer base
• PROPERTY TAX EXPENSE REDUCED OVER $110,000 ANNUALLY (2025 VS 2023)
• lowering tenant occupancy cost by more than $6.00 psf annually.

Description

Newmark is pleased to present the opportunity to acquire Centre Place I, an ±17,707 square foot, net-leased retail center at 1231-1255 S. California Blvd. in Walnut Creek, California.

Anchored by Charles Schwab’s flagship retail banking branch and The Habit Burger Grill (#21 in the portfolio as reported by Placer AI).

The fast-casual food tenants benefit from high daytime populations (120,000+ within 3 miles) and affluent demographics (avg. household income of $158,175 within 3 miles) which support strong sales. Habit Burger has been immensely successful at this location with sales volumes well above $1,000 per square foot.

Walnut Creek is home to some of retail’s premier luxury tenants including Apple Store, Tiffany and Co., Tesla, Vineyard Vines, Restoration Hardware, and Life Time Fitness. Just two blocks from the property, Macerich Properties’ Broadway Plaza (anchored by Nordstrom, Macy's, Apple Store, and Life Time Fitness) highlights Walnut Creek’s retail core and is widely considered the East Bay’s retail crown jewel.

Location

Walnut Creek is an attractive destination for businesses and entrepreneurs with a strong economy, high quality of life and a population of 67,000. Located 25 miles east of San Francisco, it boasts a prime location at the intersection of Interstates 680 and 24 and convenient access to the Bay Area Rapid Transit (BART) system. The city is home to a diverse and prestigious roster of top employers such as Kaiser Permanente, CSAA, Safeway, Nordstrom, and John Muir Health.

Walnut Creek's affluent population enjoys an abundance of shops and restaurants, outdoor recreational amenities and employment opportunities. Recent developments have seen a surge in residential and mixed-use projects, attracting a steady influx of talented employees and families looking for high-quality employment and entertainment opportunities. Overall, Walnut Creek is a city on the rise, offering a great location, an excellent quality of life, and a strong economy, making it an ideal place for businesses to establish and grow.

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