Gilroy Village Shopping Center Hits Market at $30MM: 124,000 SQFT Center With a Dark Former 99 Cents Only Anchor Box
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. 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
- 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
A 13-acre neighborhood center anchored by Smart & Final and Crunch Fitness on Gilroy's East 10th Street corridor is for sale at $30 million. Its pitch to investors rests on a vacant 25,153-square-foot former 99 Cents…
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