2107 Broadway Redwood City, CA 94063

Property Details for 2107 Broadway

Year built

2006

Lot size

2.26 lot acres

Property size

144,772 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional Class A, Core+ investment opportunity presents the Shops on Broadway, a 144,772 square foot mixed-use retail and entertainment complex situated in Redwood City's thriving downtown core. Built in 2006 on a 2.26-acre lot (APN: 052-366-120 and 052-366-130 (NAP)), this two-story building (plus two levels of subterranean parking) boasts a 97.5% occupancy rate, with a projected occupancy date of January 1, 2025. The property benefits from a CBR (Central Business Retail) zoning designation and is anchored by a state-of-the-art 20-screen Cinemark Century Theaters. A diverse tenant mix includes successful restaurants, a fitness center, and a new museum, creating a synergistic draw for the entire mid-Peninsula community. The property's irreplaceable Silicon Valley location and strong tenant base, coupled with below-market rents and built-in growth through contractual rent increases, offer significant upside potential. Redwood City's substantial recent development activity in office, life science, residential, and transportation sectors has fueled increased daytime and 24-hour populations, creating consistent demand for the property's offerings. This presents a superior risk-adjusted yield with a projected 10-year CAGR of 5.00% and significant barriers to new competition. The property is financeable.

Location Insight

City

Redwood City

County

San Mateo

State

California

Longitude

-122.229

Latitude

37.4855