SAN FRANCISCO–(BUSINESS WIRE)–Holliday Fenoglio Fowler, L.P. (HFF) announced today that 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
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.”
About Invesco Real Estate
Established in 1983, Invesco Real Estate manages $61.9 billion of real
estate investments, including $36.8 billion in direct real estate
investments and $25.1 billion in real estate securities (as of June 30,
2015). With more than 400 employees in 20 offices worldwide, the group
focuses on top-down market and property fundamentals combined with
bottom-up local market intelligence. Senior members of the management
team have worked together for more than 25 years, contributing to the
consistent implementation of Invesco’s investment strategy and resulting
performance. Additional information is available at www.invescorealestate.com.
About Donahue Schriber
Donahue Schriber is a privately held real estate investment trust
(REIT), which owns and operates 66 shopping centers representing over 10
million square feet of retail space throughout California, Nevada,
Oregon and Washington. For more information about the company, visit its
website at www.DonahueSchriber.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).
HFF operates out of 22 offices nationwide and is a leading provider of
commercial real estate and capital markets services to the U.S.
commercial real estate industry. HFF together with its affiliate HFFS
offer clients a fully integrated national capital markets platform
including debt placement, investment sales, equity placement, advisory
services, loan sales and commercial loan servicing. For more information
please visit hfflp.com
or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp.,
a real estate broker licensed with the California Department of Real
Estate, License Number 01385740.