November 8, 2016
San Francisco-based Long Market Property Partners, LLC and Paragon Commercial Group, LLC acquired the Shops at Todos Santos in downtown Concord, CA for a reported $18.97 million. The full city block was sold by an unnamed private family, which originally purchased a portion of the site in 1901, and over time, aggregated the remainder of the block.
Comprised of more than 40,000 square feet of retail space on 2.15 acres, the center is currently 100% occupied by 15 local, regional and national tenants
Long Market Property Partners’ Justin Shapiro says the investors recognized “a unique opportunity” in a prime downtown retail growth market that offers the “potential for upgrades” to solidify its place as the market’s “dominant retail destination.”
Newmark Cornish & Carey’s Forrest Gherlone, Mike Zylstra, Keith Marr and Zachary LeBeouf handled the disposition. The buyers were self-represented.
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