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Capmark Buys Mervyn's 336,000-SF HQ

SAN FRANCISCO-Mervyns, the Hayward-based retailer, signs a long-term lease at the building.

By Brian K. Miller | Updated on March 18, 2007

SAN FRANCISCO-Capmark has acquired the 336,000-sf headquarters of Hayward-based retailer Mervyn’s, which occupies the property under a long-term lease. The seller was MDS Realty II LLC, which acquired dozens of Mervyn’s properties in 2005.The asking price for Mervyn’s Hayward headquarters was $62 million. The negotiated price wasn’t released by the parties involved. One of the brokers in the deal, Jacque Ducharme, Studley’s western regional vice chairman, says in a prepared statement that the seller realized “100% of the cash value of the property.”

Located at 22301 Foothill Blvd., the building was originally built in 1958 as a three-story department store. The building has served as the national headquarters for Mervyn’s since 1984, when a fourth floor was added. In 1997, the building was completely renovated, including a full seismic upgrade. The 8.8-acre property includes a four-level parking structure.

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