Monday, April 20, 2015

American Realty Advisors Acquires Stabilized Retail Shopping Center in Dublin, CA for $51 Million


Dublin Place Shopping Center, Dublin, CA

 DUBLIN, CA, April 20, 2015 – American Realty Advisors (American), an institutional real estate investment manager with approximately $6.7 billion in assets under management, has acquired the Dublin Place Shopping Center, a 283,506 square-foot retail shopping center in Dublin, California for $51.1 million.

The property is currently 97 percent occupied and anchored by a mix of strong tenants including Target, Hobby Lobby, Burlington Coat Factory, and Toys R Us.

According to Kirk Helgeson, Executive Vice President of American Realty Advisors, this asset is centrally located within a strong, growing submarket of downtown Dublin and is one of more than 150 commercial real estate assets American currently owns and operates throughout the U.S.


“Downtown Dublin, and this immediate location at the West Dublin/Pleasanton Bart Station, are the focal points for increased densification and infill development in the coming years, which will increase customer demand, the interest by retailers to this area and heighten returns for our investors,” Helgeson notes.

“In addition to the increasing customer base coming to the market, the shopping center’s proximity to mass transit, and its adjacency to the intersection of Interstates 580 and 680, make this investment particularly attractive.

Kirk Helgesen
" We have acquired the center with an in-place stabilized revenue stream, yet will be able to maximize yields based on the A+ location in a rapidly growing market,” Helgeson adds.

American acquired the Dublin Place Shopping Center from PFRS Dublin Corporation, and plans to increase the value of the asset by marketing the existing vacant space to new tenants, bringing existing below market rate rents up to the current market rates, and upgrading existing shop buildings, according to Helgeson.

“Further, American may have the ability to increase density on the center’s site with additional commercial and residential space over time,” he says.

            The Dublin Place Shopping Center is located at 6920-7202 Amador Plaza Road; 7590 Amador Valley Boulevard; 7505-7533 Dublin Boulevard in Dublin, CA.  American Realty Advisors and the seller, PFRS Dublin Corporation, represented themselves in this acquisition.

For a complete copy of the company’s news release, please contact:
Lexi Astfalk / Jenn Quader
Brower, Miller & Cole
(949) 955-7940

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