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10/28/24
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TownCentre Capital has purchased Twin Canyon Shopping Center, a 23.1k sf, retail strip center in San Ramon, CA, for $9 mil ($390/sf). Built in 1980, Twin Canyon Shopping Center sits on 2.36 acres at 2450-2550 San Ramon Valley Blvd, at the corner with Norris Canyon Rd.
Twin Canyon is 100% leased, featuring a diverse tenant mix including Round Table Pizza, Beer Area Liquors and Bricks & Minifigs. The center benefits from a stable tenant base with an average occupancy of over 11 years.
Twin Canyon is situated in the heart of San Ramon's retail corridor, with excellent visibility and access from I-680. The city's prosperity is evident in its impressive average household income of $231,451 within a three-mile radius of the property. This thriving area has experienced significant growth, attracting major employers such as Chevron, GE Digital and SAP, further solidifying its position as a desirable location for businesses and residents alike.
Eric Kathrein and Warren McClean with JLL Capital Markets represented the unnamed seller in the transaction.
"Twin Canyon Shopping Center represented an excellent opportunity to acquire a fully leased, high-quality retail asset in one of the Bay Area's most desirable suburban markets," said McClean. "The property's strong location and diverse tenant mix made it an attractive long-term investment with value-add potential."
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