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Description:
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Fremont Times Square is a grocery anchored Asian retail condominium shopping center geared towards the growing affluent Asian community in Fremont, California. Fremont Times Square will have a 30,000 square foot Marina Food grocery store as the anchor plus 64,000 square feet of inline space on 7.52 acres of land. The inline spaces will be a "for sale" product designed to attract long-term tenants who wish to own rather than rent. Retail condo buyers are generally required to place non-refundable deposits of 10% of the purchase price at the time of purchase, and an additional 20% prior to the Company closing on the land. The cost of construction is guaranteed by the Developer, Barry Swenson Builder, (labor, materials, etc). Fremont Times Square has been designed to project an upscale shopping experience by directing certain aspects of the buildings to appeal to the more affluent Asian shopping population that resides in the general area. This is a joint venture with Barry Swenson Builder, one of Silicon Valley's most recognized names in construction
Highlights
- This approximately 15 month project will consist of constructing 8 separate free standing buildings totaling approximately 94,000 square feet of retail space. Construction is estimated to start in August 2008.
- Each inline building will be divided into smaller suites averaging 1,000 square feet per retail condominium.
- The majority of the square footage in this project has been pre-sold including the 30,000 square feet for Marina Food.
- The center's anchor, Marina Food, has been operating for over twenty years and currently has six stores located throughout the Bay Area including in Cupertino, Burlingame, Foster City, Union City, and San Mateo. The management of Marina Food has 30 plus years of grocery management and operation experience. Marina Food draws from the traditional Chinese and Asian demographic as it stocks merchandise and perishables native to China and Asia not typically found in a Safeway, Lucky's, or Trader Joe's. The new Marina Food supermarket in Fremont Times Square will offer a larger selection of organic and natural foods than are found in the chain's current stores, according to Steve Huang, CEO of Marina Food. In addition to groceries, Marina Food stores offer an on-site bakery and a sit down restaurant.
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