1910-1920 Camden Avenue is an opportunity to purchase a critical 19,184 SF shopping center on 1.58 Acres situated on the corner of Camden Avenue and New Jersey Avenue. Core Silicon Valley location is only 0.2 Miles from many large retailers on Hillsdale Avenue such as The Home Depot, 24 Hour Fitness, Smart & Final Extra, Target, TJ Maxx & HomeGoods, and Big Lots.
Redevelopment Opportunity: 100% affordable housing under Policy IP-5.12 would require replacing 50% of the existing commercial space in the new project. A Signature Project, that would allow market-rate mixed-use, could also be possible but would require a higher amount of replacement commercial and a minimum number of residential units.
Value-Add Opportunity: tenants are on short-term leases with an average lease expiration date of 2021-2022. This allows for a chance to sign NNN leases rather than the current gross leases and lease up the vacant 3,120 SF with an average current gross rent of $2.87 SF.
