February 15, 2019
Scottsdale, AZ-based Gadsden Growth Properties, Inc. acquired Mission Hills Square, a mixed-use, ground-up development in Fremont, CA for roughly $240 million in a combination of cash and stock. The seller was Atherton, CA-based Fremont Hills Development Corp.
The under-development project includes 158 residential apartment units and 53,900 square feet of retail space, and is slated for completion in October 2019. Situated in the East Bay foothills along Highway 680, the 12.9-acre site is at the corner of Sabercat and Durham roads.
Gadsden Growth Properties, Inc.’s John E. Hartman says, “This acquisition is indicative of our core strategy of buying strong retail and mixed-use assets in secondary markets with robust economic and socioeconomic tailwinds. We believe this asset significantly increases the Company’s NAV, and enhances the overall quality of our portfolio.”
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