Australian Firm Buys Cupertino Fashion Park

The $70-million acquisition of the Vallco Fashion Park, Cupertino, Calif., by Westfield Holdings Ltd. of Sydney, Australia, is considered to be the biggest real estate transaction involving a single property in Santa Clara County.

The property, which marks the fifth major shopping center now owned in the United Stated by Westfield Holdings, is located on Wolfe Road, south of Interstate 280.

Opened in 1976, the shopping center has 140 stores providing more than 1 million square feet of retail space on a 63-acre site. Sellers were Vallco Fashion Park Venture, comprised of 17 landowners, and Lyon & Gordon, a Los Angeles-based shopping center development firm.