July 11, 2018
The Streets of Brentwood, a high-profile grocery-and theatre-anchored lifestyle center located in San Francisco’s East Bay, has traded hands for a reported $85.75 million. Chicago-based Fairborne Properties acquired the 358,615-square-foot center in Brentwood, CA from a fund managed by DRA Advisors.
The center includes a 14-screen AMC Theatre, DSW, ULTA and a new Sprouts Farmers Market. Situated on roughly 49 acres near Highway 4 and Sand Creek Road, the property also has fully-entitled development parcels totaling nearly 12 acres. That land can support an additional 80,000 square feet of retail, as well as outparcels suitable for quick-service restaurants. The new owner also has the opportunity to add multifamily on one of the parcels.
NKF Capital Markets’ Nicholas Bicardo and Brandon Rogoff represented the seller.
Bicardo says, “We had a tremendous amount of capital chasing this opportunity, given the continued growth prospects of the trade area and quality of the asset.”
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