NAI BT Commercial negotiated the sale of two retail properties in the San Francisco Bay Area for a total price of $53.7 million.

In the first transaction, Fowler Property Acquisitions purchased the 138,368-square-foot Fairway Park Shopping Center in Hayward, Calif., for $20 million, or $144.54 a square foot.

The property, developed in 1955 and owned by the same family ever since, was acquired for redevelopment. Fowler plans to re-lease the space recently vacated by Albertson’s with a smaller-sized grocer.

In the second transaction, Centervest Properties acquired the 167,051-square-foot Heritage Park Shopping Center in Suisun City, Calif., for $33.7 million, or $201.73 per square foot.

Heritage Park is anchored by a Raley’s grocery/drug combination store and was 98 percent leased at time of sale.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Leaders from across the industry answered our call to come to Inman Connect and share essential advice for leveling up your 2021.SEE THE SPEAKERS×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription