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June 20, 2018
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BAY AREA NEWS
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Private Investor Buys 35k sf Bay Area Retail Property

2/09/18

Windsor Square, a 35k sf shopping center located in the Washington Manor neighborhood of San Leandro was acquired by an unnamed private investor.

Located at 1960 Lewelling Blvd, Windsor Square is a fully leased retail center anchored by Foodnet Supermarket, a locally owned Asian grocery store. The center is situated on a three-acre parcel and was owned by the seller, Daniel Bryant Land Ltd, for over 30 years.

Andrew Reeder of CBRE represented the seller in the transaction. According to Reeder, this transaction marks the first sale of a grocery-anchored retail center in San Leandro in over two years.

“The seller received multiple full-price offers, and the property sold at a record low cap rate for the East Bay retail submarket,” commented Reeder. “Although the retail sector is evolving, San Francisco Bay Area retail centers have continued to show strong performance and remain attractive to both local and foreign investors.”

As a result of San Leandro’s continued population growth and proximity to Oakland and San Francisco, investment in San Leandro is at an all-time high with a number of new projects completed over the past several years and many more underway. Over the past four years, the value of new construction has exceeded over $590 mil, and over 1,500 housing units are planned for development over the next five years. With minimal vacant land and strong interest in the redevelopment of underutilized properties, this sale represents new investment in the community that will stimulate economic growth and support the Washington Manor community.





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