Sunday, July 31, 2016

Sale of newly-built San Francisco Bay Area retail center closed by HFF

Alameda Landing Shopping Center, 2600-2700 Fifth Street, Alameda, CA

SAN FRANCISCO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of a Real Estate Investment Trust (REIT) that owns Alameda Landing, a newly-built, 165,777-square-foot, grocery-anchored shopping center in the San Francisco Bay Area community of Alameda, California.

HFF represented the seller, Catellus.  AFL-CIO Building Investment Trust, for which PNC Bank is trustee and PNC Realty Investors, Inc. is investment advisor, purchased the REIT free and clear of existing debt but subject to certain preferred stock holders.      

Nicholas Bicardo
Situated on almost 80 acres at 2600-2700 Fifth Street, Alameda Landing is located on Alameda Island, an affluent community in the heart of the San Francisco Bay Area. 

The center is accessible from Interstates 80, 580, 880 and 980 and adjacent to the Webster Street Tube, which is less than a quarter of a mile away from the subject property.

 Alameda Landing is 86 percent leased to national and regional tenants, including grocery-anchor Safeway, Michaels, Orange Theory Fitness, Chipotle, AAA Insurance and Bank of America.  Alameda Landing is also shadow-anchored by Target.

The HFF retail investment sales team representing the seller was led by managing director Nicholas Bicardo.

“Alameda Landing is one of the highest-quality, newly-built grocery-anchored retail centers in the Bay Area,” Bicardo said.  “Deals of this scale and quality rarely come available in the San Francisco Bay Area.  This will be a trophy in the buyer’s portfolio for generations to come.”

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

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

No comments: