California shopping center sells for $90 million

Asset built in 1990s

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Grubb & Ellis Co. represented Westlake Global Management in the sale of Bridgepointe Center, a 270,000-square-foot portion of a regional shopping center in San Mateo, Calif. The transaction was in the $90 million range. San Francisco-based SPI Holdings purchased the asset. The 7-year-old power center, part of a 75-acre master-planned development, was 92 percent leased at the time of the sale. Major tenants include Staples, Bed, Bath & Beyond, Sportmart, Petco, Ethan Allen, Old Navy and Marshalls. Home Depot, Target and Toys R Us are also at the center. *** What's your opinion? Send your Letter to the Editor to