July 13, 2018
LBG Real Estate Companies, LLC signed a lease with 99 Ranch Market to anchor its recently-acquired The Shops at Hilltop in Richmond, CA. The leading Asian supermarket chain will occupy a 31,500-square-foot store, with an 11,000-square-foot food court at the 1.2 million-square-foot East Bay shopping center.
The addition represents the onset of a unique asset repositioning approach, strategically designed to transform the enclosed shopping mall into an all-inclusive, multi-cultural shopping and entertainment destination.
LBG Real Estate Companies’ Leslie Lundin says, “We are proactively responding to not only significant overall population growth projected for the East Bay region in the years ahead, but also to cultural marketplace shifts that are currently taking place in The Shops at Hilltop’s core trade area. Currently estimated at 22%, dramatic growth among the region’s Asian population is projected to increase over 10% by 2023.”
LBG Real Estate Companies’ David Goldman handled the direct deal in-house.
For comments, questions or concerns, please contact Dennis Kaiser