Retail centers in San Jose, Berkeley and Alamo have been bought by an East Coast real estate firm that is using the deals to launch a push into the West Coast.
Retail sites in San Jose, Berkeley and Alamo have been scooped up by an East Coast real estate firm that is using the purchases to launch its initial foray into the West Coast, property records show.
The property deals show that real estate investors continue to hunger for an array of commercial properties in the Bay Area, including retail sites, despite the economic uncertainties unleashed by the coronavirus.Alamo Plaza Shopping Center in Alamo was bought in a $135.5 million deal, according to a filing with the Contra Costa County Recorder’s Office.
The seller in all three of the Bay Area retail sites was Orange County-based Donahue Schriber Realty Group, the public property records show. The portion of the Village Oaks center that was acquired includes Safeway supermarket, Marshalls department store, Petco, Mod Pizza, Chipotle, Starbucks and Panera. A Target store wasn’t part of the purchase.
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