175,000 SQFT Car Sales and Service Complex Proposed to Replace Blossom Hill Road Retail Center Near Westfield Oakridge in San Jose
Why this matters
Retail has become a quiet outperformer. A decade of effectively zero new development has left necessity-driven, grocery-anchored, and Sun Belt strip product with negligible vacancy and re-leasing spreads in the high single digits. Cap rates have compressed in step, and the bid for stabilized portfolios is again broad across REITs, pension funds, and institutional core-plus capital. San Francisco continues to clear office at the deepest discounts to 2019 basis seen in the cycle, while multifamily fundamentals have stabilized and life sciences in the Peninsula remains active. The asset class has effectively rerated as a defensive yield trade rather than a secularly challenged sector.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 112th San Francisco story tracked on the wire in November 2026. All San Francisco coverage →
- Disclosed retail deal value tracked in November 2026: $3B across 51 reported transactions. All Retail coverage →
Computed from Real Estate Trail’s own tracked coverage
Plans filed with the City of San Jose call for a 175,400-square-foot vehicle sales and service complex with a gas station at 942-968 Blossom Hill Road, replacing an aging retail building across from Westfield Oakridge…
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