A San Diego-based real estate investment company has completed its acquisition of “Geary Marketplace” in Walnut Creek, for a reported price of $21 million.
American Assets Trust, Inc. announced its acquisition of Geary Marketplace, a newly constructed, approximately 35,000 square foot, fully leased location anchored by the Sprouts Farmers Market and home to Habit Burger, Coffee Bean & Tea Leaf and Freebirds World Burrito. The center is located at 1510 Geary Road in Walnut Creek.
The new owners cite its proximity to Pleasant Hill BART and Interstate-680 as major reasons for their acquisition of the center.
American Assets describes itself as a full service, vertically integrated and self-administered real estate investment trust, or REIT, headquartered in San Diego. The Company’s retail portfolio comprises approximately 3.1 million rentable square feet, and its office portfolio comprises approximately 2.6 million square feet.