EDENS Spends $244MM+ on Bay Area Retail Assets as Part of Coast-to-Coast Expansion

EDENS, Alamo Plaza, Gilman District, Rocklin Commons, Village Oaks, San Jose, Sacramento, Alamo,
Rocklin Commons, Sacramento

(EDITOR’S NOTE: According to industry reports, EDENS spent more than $243.89 million to acquire three Bay Area retail assets. EDENS purchased Village Oaks in San Jose for $115.1 million and a Whole Foods-anchored retail center in Berkeley for $43.1 million. The price for the Alamo Plaza Shopping Center was not immediately available; however, EDENS paid $94,258.45 in transfer tax, per Contra Costa County records, bringing the sales price to about $85,689,500 million. The price for Rocklin Commons, in Sacramento, was not available. This story will be updated accordingly once the number become available. The seller of the properties is an entity affiliated with Donahue Schriber.)

WASHINGTON — EDENS, a leading national retail real estate owner, operator and developer, announced today that it has acquired eight open-air, grocery-anchored shopping centers on the West Coast of the United States.

The transaction includes the acquisition of properties in markets including San Diego, Los Angeles, San Francisco and Seattle, encompassing over 1 million square feet:

  1. Alamo Plaza Shopping Center (San Francisco)
  2. Bonita Center (San Diego)
  3. Callens Corner (Los Angeles)
  4. Gilman District (San Francisco)
  5. Lakeland Town Center (Seattle)
  6. Rocklin Commons (Sacramento)
  7. Village Oaks (San Francisco)
  8. Westgate North (Seattle)

“Our West Coast expansion is a pivotal milestone for EDENS and the next step toward building a pipeline of future opportunities,” said Jami Passer, Chief Investment Officer, EDENS. “Enriching community is at the core of our ethos, and we are energized to expand our placemaking footprint to dynamic markets from San Diego to Seattle. We have arrived on the West Coast in a meaningful way.”

Taking a holistic approach to transformative placemaking, EDENS designs its properties to achieve meaningful weekly trips and dwell time that drive human engagement and a sense of community. Through thoughtful design and curation, places are established as thriving retail destinations, driving impressions and market sales while effectively serving as public realms for social interaction and community engagement. When people come together, they feel a part of something bigger than themselves and prosperity follows—economically, socially, culturally, and soulfully.

EDENS now owns and operates a combined 14.2 million square feet of retail in 110 places in major markets including Boston, New York, Washington, DC, Charlotte, Atlanta, Miami, Houston, Dallas, Denver, San Diego, Los Angeles, San Francisco and Seattle.

About EDENS

EDENS is a retail real estate owner, operator, and developer of a nationally leading portfolio of 110 places. Our purpose is to enrich community through human engagement. We know that when people come together, they feel a part of something bigger than themselves and prosperity follows—economically, socially, culturally, and soulfully. EDENS has offices in key markets including Washington, D.C., Boston, Dallas, Columbia, Atlanta, Miami, Charlotte, Houston and Denver.

West Coast Commercial Real Estate News