Saratoga's Quito Shopping Center Sold

According to a Mercury News article by Katherine Conrad today, developer Peter Pau has acquired Saratoga's Quito Village. He already owns the adjacent office center next door. The center was purchased four years ago for $16 million and sold for $26 million in a deal that closed Tuesday.

Pau and his wife Susanna also own and/or are involved with the following:

- Bridgepointe Shopping, formerly the Fashion Island mall in San Mateo
- Cupertino Village, which includes Ranch 99 and numerous other Asian restaurants and shops
- Sunnyvale Town Center, which is currently being remodeled for mixed use, including retail and office space, restaurants, a movie theatre and townhomes
- Sunnyvale Town & Country, across the street from Sunnyvale Town Center
- The former site of Anderson Chevrolet in Cupertino
- The former site of Swanson Ford in Los Gatos, which Pau hopes to turn into a retail/residential development

According to the article, "Pau is currently obtaining entitlements from San Jose to develop an 18-acre site near Brokaw Road and Interstate 880 for a Lowe's home improvement store."

Hmmm, interesting. They also own the Cupertino Village shopping center. If that's the one across the street from DeAnza College, then it's a pretty close cousin to the make-up of Quito. The article says that Pau revitalized the Cupertino Village. If it's the place I think it is, I'm not sure if I'd say it got revitalized though. It's still alive and doing a little better, but it's not exactly thriving from what I can tell.

QUOTE (Sheldon @ Jul 18 2007, 10:57 PM)

Hmmm, interesting. They also own the Cupertino Village shopping center. If that's the one across the street from DeAnza College, then it's a pretty close cousin to the make-up of Quito. The article says that Pau revitalized the Cupertino Village. If it's the place I think it is, I'm not sure if I'd say it got revitalized though. It's still alive and doing a little better, but it's not exactly thriving from what I can tell.

Actually, the article says, "In Cupertino, the developer recently sold the Oaks Shopping Center". That's the one across the street from De Anza, with the now-defunct Oaks movie theatre. I believe Hobee's, Coffee Society and Jamba Juice are still there but I haven't been there in a long time, so don't quote me on that. I don't really have a reason to frequent that area anymore.

The Paus still own Cupertino Village, the one on the corner of Homestead and Wolfe with Ranch 99, across from HP (where I will soon be working at.) I call it the Asian Shopping Center because aside from Starbucks and a couple of financial firms, I'm pretty sure all the other shops are Asian.

This post has been edited by mobyfan on Aug 22 2007, 03:59 PM