Center acquired for $61.1 million
Rossmoor Shopping Center, the 118,846-square-foot grocery-anchored shopping center located at 1900-1998 Tice Valley Boulevard in Walnut Creek has been acquired by the Florida-based Sterling Organization, a private equity retail real estate investment firm, the company announced in a prepared release Tuesday.
Rossmoor Center was acquired on behalf of Sterling’s United Properties II, LP, a $267 million equity Fund focused on investing in stabilized grocery-anchored shopping centers.
“We see tremendous potential to further elevate its (the center’s) appeal through thoughtful enhancements and active asset management,” Sterling Principal Bob Dake wrote. “Our team’s goal, over time, with small tweaks, is to create an even more dynamic and engaging environment for both shoppers and tenants.”
Sterling’s United Properties fund owns 17 properties in major markets across the United States. Members of their acquisitions team cited the center’s established retail tenants and the area’s demographics as primary drivers for the purchase.
Bakery!!! Please!
Bring the Safeway into the 21st Century!
Yeh….. a bakery would be welcome.
Some good businesses with nice people but the center could use an overhaul.
A good boulangerie would do well.
Even though I live in Concord, I drive out there to visit the Labcorp facility.
Give us another La Farine
Chinese/Japanese buffet restaurant please!!!
Get Safeway to get rid of the filth they display along with food. Tear it down and start over!
Whoa! Reminds us of the old “The City Serves Swill to Its Citizens” comment from the Herb Caen Days!
I believe the headline was (or I always remember it this way) A GREAT CITY FORCED TO DRINK SWILL re: coffee in SF
Whenever I hear the term “private equity” my hackles go up. See: Bain Capital
What a waste of money