Gross Cost: $17 M
Completion Date: Estimated 2Q 2016
Acquired in 2005, this Asian-oriented neighborhood shopping center is located in the heart of Silicon Valley adjacent to Apple's new Corporate II Headquarters (former HP HQ). Entitlement efforts, ongoing the past several years, culminated with the City of Cupertino vesting Kimco's application to redevelop this 1960's Town & Country Center with a multi-phased project renamed Cupertino Village. Phase I included the addition of a two-level parking structure to accommodate approximately 220 cars. Phase II added 24,000 SF within two retail buildings adjacent to Wolfe Road and existing center. Phase III of the current approvals provided for the renovation of the existing four-building shopping center with a contemporary architectural design, as well as the reconfiguration of the pedestrian courtyard landscape and hardscape. The final merchandising strategy will diversify the existing tenant roster by adding national and regional retailers. Lastly, the reconfigured site provides several pedestrian connections to the Apple II corporate campus. Future value creation activities will focus on the entitlement and redevelopment of the existing two-story bank building located at the Prune Ridge and Wolfe Road intersection.
by Block Group
Popstats, 4Q 2015 rev., Trade Area Systems
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