SAN JOSE — The family that sold a downtown San Jose site where they are operating a popular Asian supermarket has already found a location to open a new market, a choice site near the vast Eastridge Center.
The Hua family on July 16 sold several parcels where the existing Dai Thanh Supermarket is located at and near 418 S. Second St. in San Jose in a $17 million deal.
The existing store will remain at the South Second Street site for at least two to three more years while the residential project goes through a full-scale city approval process.
The downtown San Jose properties will accommodate a big residential project being planned by local developers Gary Dillabough and Jeff Arrillaga.
The Hua family bought a property at 2040 Tully Road in San Jose, paying $6.8 million for the parcel, according to documents filed on July 19 with Santa Clara County officials.
The new property owners intend to revamp the interior and exterior of the Michaels store so they can open a new Dai Thanh Supermarket on the site, said David Taxin, a partner with Meacham/ Oppenheimer, a commercial real estate firm.
Taxin arranged the purchase of the property, a 1.4-acre site that accommodates the Michaels store, which totals 15,500 square feet.
The just-bought parcel is at the busy intersection of Tully Road and Quimby Road.
“This is a great location for an Asian market,” Taxin said. “It’s in front of the million-square-foot Eastridge mall. The traffic on Tully is tremendous, it’s like an expressway. It has great accessibility and visibility.”
The new Tully Road site will also have considerably more parking than the current downtown location, according to Taxin. The downtown site had about 25 to 30 parking spaces, while the new site on Tully will have 65 to 70 spaces.
“The downtown market has been there forever,” Taxin said. “They have a huge following in terms of shoppers.”
As a result, the prospect of a new Dai Thanh Supermarket will likely be embraced by current and future patrons.
“They will have a more central retail location,” Taxin said. “Their customers will follow and they will pick up a lot of new customers.”
