About Cupertino's Cupertino Square

The Cupertino Square mall is on the news again. The only three leveled shopping mall in Cupertino of California which is the home of the Cupertino AMC 16, Strike, JC Penny, Sears, Macy...In year 2005 a local group of the investors purchased this mall. It went through a few major renovation since then. In year 2006 Cupertino residents voted against rezoning part of the Vallco property to condominiums. The mall encountered the financial problems due to loss of this expected revenue. Those investors sold the mall to the Orbit Resources, Inc.

The Orbit Resources has visions of infusing Cupertino Square with some elements of a lifestyle center and a focus on entertainment, it is in Chapter 11 bankruptcy from September 2008. According today's San Jose Mercury News that If the U. S. Bankruptcy Court judge approves the plan to re-organize the mall in the hearings on March 16 and April 23 2009, then the Cupertino Square will emerge from Chapter 11 bankruptcy. In this plan, the Orbit Resources, Inc, the mall owner, stuck a deal with the Gramercy and the United Commercial Bank which loaned to the mall $195 million of the renovation in 2006 and is still owed $113.8 millions. A shell company, Newco which is under the Orbit's control, will buy the mall from the Gramercy, UCB and Orbit's investors. The opening offer would be 108.6 million and it would be subject to overbids.

The hot retailer Steve & Barry's and Munich's beloved beer hall are in the Cupertino Square also. There are coupons at the Cupertino Square e-maginzine also.I knew the mall is working very hard to fill the empty especially at this economic down turns.As the long time Cupertino realtor I really like to see the Cupertino Square runs well. The local residents have another place to eat, shop and hang out.

Grace Keng, Silicon Valley real estate agent, (408) 799-8887 creator of www.GraceKeng.com , member of the Silicon Valley Association of Realtors (SILVAR) and memberships in the National Association of Realtors, (NAR),
the California Association of Realtors, (CAR) and PhD of Realtor - Certified Residential Specialist (CRS).

Cupertino Square is an indoor shopping mall will be on auction block.

Cupertino Square shopping market formerly known as Vallco Fashion Park, will be on auction September 10, 2008 at the San Jose downtown court house. According the local news, San Jose Murcury News : “Gramercy said in an Aug 7 notice of sale of foreclosure, that Cupertino Square owes it and its lending partner, United Commercial Bank, an estimated $121 million. .. this 32-year-old mall, which as been trying to reinvent itself with a new name, a new look and new tenants since 2007”

Kelly Kline, Cupertino redevelopment development manager and a close Cupertino Square observer told the Cupertino City Council on August 5 that the most project at the mall are on hold until the receivership situation changes and the lawsuit with the lender is resolved. This is not the 1st time this mall has been auctioned. In 2003 the Teachers Insurance and annuity association Vallco’s lender and the only bidder, took over the mall for $55 millions. Logo picture is credit to www.cupertinosquare.com

The Strike Bowling at Cupertino Square became a popular place for the Silicon Valley fun place.

The Strike is unlike most Bowling place. It has everything bowling, food, TV, muisc and games.

It features 32 lanes of high-energy and glow in the dark bowling in a unique setting with the state of the art audio visual and huge video wall spanning the lanes. You will enjoy the cocktails and gourment cuisine right near bowling lanes. Strike has already started in the east cost and has made its way to the west. You may check www.strikecupertino.com or check out this article of Cupertino Strike.