Vallco cross reference info
Cross-reference information
Vallco Fashion Park – name changed to Cupertino Square in 2007
Former ownership was Westfield?
Purchased by Evershine Property Management
Orbit Resources bought a controlling stake and will take over mall management
Alan Wong, Emily Chen and John Nguyen were previous owners, still involved
Mike Rohde is mall general manager
Cupertino Mercury News
0740 | Wednesday, October 3, 2007
News
Cupertino Square and 3 parcels are bought by local
investors
By Crystal Lu
The owners of Cupertino Square--formerly Vallco Fashion Park--have sold three
plots of land and their managing stake in the mall to local investors.
Evershine Property Management, manager of Cupertino Market Place on Stevens
Creek Boulevard at Portal Avenue, bought three parcels that total 13 acres for an
undisclosed sum about two weeks ago.
At the same time, Orbit Resources, a global investment company with an office on
Stevens Creek Boulevard at Finch Avenue, bought a controlling stake and took over
mall management for an undisclosed sum. Alan Wong, Emily Chen and John
Nguyen, the previous owners, will remain involved but Orbit will take the lead, said
Mike Rohde, the mall's general manager.
Cupertino Square's redevelopment, closely watched by the city, will likely continue
as planned because the buyers' options are limited by development agreements.
"In order to preserve the existing entitlements, they would have to do something very
similar. Right now we're working on the assumption that it is going to be the same,"
said Kelly Kline, Cupertino redevelopment and economic development manager.
Changing the plans would require extensive work with city staff and final approval by
the Cupertino City Council.
"I would assume there's going to be some parallel to what has been discussed or
approved with the city," said Rohde.
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And this is the company that bought it:
Orbit Resources, Inc. is a private investment holding company with offices in the
Silicon Valley - USA, Shanghai - China, and Munich - Germany.
We specialize in technologically oriented, manufacturing concerns that can benefit
from our strong international experience and resources. Our acquisition candidates
should have management and workforce that are committed and capable of
facilitating a turnaround of the company. Our philosophy has been to acquire
companies in which we can improve efficiencies through growth rather than
reduction. Our goal is to address operational weaknesses while expanding the market
for its products/services contemporaneously.
The typical target firm has:
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Committed management team and workforce
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Solid intellectual property foundation
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Products/services that can potentially attract wider, international distribution
channels and/or market segments
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In general, revenues in the range of 20 to 200 million dollars
We assist in turnaround situations by optimizing efficiencies in the following areas:
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Deploy capital as needed to optimize productivity and capacity
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Expand distribution channels through our international resources
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Support management with our expertise in global marketing, operations and
corporate finance
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Enhance profitability through wider international procurement
With an eye toward maintaining a balanced and diverse portfolio of investments, we
also seek and manage commercial real estate interests and developments..