Vietnamese food processing co. purchases Vallco...once valued at $200 million...for $64 million

[Amerigo Vespucci]

This is an update to the photo essay I published last night...I just found this out (looks like it happened in October).

Friday, October 16, 2009 | Modified: Tuesday, October 20, 2009
Cupertino Square deal brings new owners, returns to old name

http://sanfrancisco.bizjournals.com/sanjose/stories/2009/10/19/story8.html



Vallco Fashion Park is back and under new ownership.

In a deal that closed in September, Son Son Co., a Vietnamese food processing entity, paid $64 million for the 50-acre Cupertino Square in an all-cash sale, according to San Jose businessman Lap Tang.

“The property itself is valuable, but because there is so much empty space they were able to make a deal,” said Tang, who arranged the transaction. “This is a good buy. At one time it was appraised at $200 million.”

The new owners of the mall on North Wolfe Road decided to keep the old moniker and spruce up the towering sign that was never removed despite the name change.