Business Services Industry
San Jose power center
Real Estate Alert, May 19, 2004
Federal Realty paid $97 million for Westgate Mall, a 637,000-sf power center in San Jose. The price represents a 7% cap rate for Federal, a Rockville, Md., REIT that owns one other San Jose shopping center, the 700,000-sf Santana Row. The seller, M&H Realty Partners, marketed Westgate via Eastdil Realty.
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