Premier Business Centers

The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 25, 2024
 Search RENTV
 The REview
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Sterling Organization Purchases Two Bay Area Retail Assets for $40 Mil


Sterling Organization recently acquired two Bay Area retail properties in a deal valued at $40.45 mil. The acquisition consisted of Franciscan Center, a 106.8k sf retail center, and Mohave Center, a 10.2k sf strip center, both located in Fremont.

The properties are situated in a very attractive submarket of the Bay Area and boast a total occupancy of 92%. Notable tenants among the centers include Safeway, Taco Bell, KFC, Burger King, Bank of America and 7-Eleven. Additionally, Franciscan Center is well positioned to the adjacent Tesla Fremont Factory.

Franciscan Center is located at 46690-46850 Warm Springs Rd, and Mohave Center is located at 46650 Mohave Dr. The centers benefit from their central location in Fremont, allowing easy access to the entire bay area. Given its proximity to major freeways, business parks and affluent neighborhoods, the centers gain significant exposure to traffic from both visiting and repeat visitors. The average household income within three miles is $171,207.

Gleb Lvovich, Daniel Tyner, Geoff Tranchina and Eric Kathrein with JLL Retail Capital Markets represented the seller in the deal.

"Grocery-anchored retail continues to drive very strong demand and pricing in today’s market. Franciscan center presented a unique opportunity for a buyer to acquire a well-performing center with immediate upside and growth,” said Tyner.

Return to the Archive page


Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media