Monday, January 25, 2016

HFF closes sale of trophy San Francisco Bay Area grocery-anchored retail center

Alamo Plaza, Stone Valley Road and Danville Boulevard, Alamo, CA

Nicholas Bicardo
SAN FRANCISCO, CA –- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Alamo Plaza, a 195,147-square-foot, fortress, grocery-anchored shopping center in the San Francisco Bay Area community of Alamo, California.

HFF marketed the property on behalf of the seller, Invesco Real Estate.  Donahue Schriber purchased the asset.      

Alamo Plaza is the only grocery/drug-anchored shopping center in Alamo, an affluent East Bay community.  

Consisting of seven multi-tenant and single-tenant buildings, the 93-percent-leased center is home to a variety of national and regional tenants, including Safeway, Rite Aid, Richards Crafts, Bank of America, 24 Hour Fitness, Panera Bread, Wells Fargo, Peet’s Coffee & Tea, Xenia Restaurant, Alamo Pet Care and Bagel Street Café. 

Situated on 18.05 acres at the northwest corner of Stone Valley Road and Danville Boulevard in Alamo, Alamo Plaza is proximate to an on- and off-ramp to Interstate 680 and is midway between Walnut Creek and Danville.

The HFF investment sales team representing the seller was led by Nicholas Bicardo, Danny Reddin and Brandon Rogoff.

“Alamo Plaza is a top-tier grocery/drug-anchored center in the Bay Area and one of the most sought after retail assets that have come to market since the downturn,” Bicardo said.  “The combination of location, surrounding demographics, tenant roster and embedded value with below-market leases checked every box for all investor groups and resulted in an extremely competitive bidding process.” 

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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