GSG Partners Sells Sand Creek Crossing Shopping Center in Brentwood for $53MM 

Sand Creek Crossing, Brentwood, GSG Partners, Sierra Landmark LLC, LHB Investments LLC, Raley’s, Ross Dress for Less, TJ Maxx, Home Goods, Party City, Krispy Kreme, Round Table Pizza, See’s Candies, Dickey’s Barbeque Pit, Fit Republic, The Streets of Brentwood

By Catherine Sweeney 

Despite disruptions caused by the COVID-19 pandemic, retail assets continue to trade in the Bay Area as the market makes a recovery. In one recent transaction that was recorded on Aug. 17, Sand Creek Crossing in Brentwood sold for $53 million, or about $495 per square foot. 

Property records filed with Contra Costa County show that the 101,922 square foot retail center was sold by GSG Partners to Sierra Landmark LLC and LHB Investments LLC, entities affiliated with Huy Nguyen, Khang Truong Nguyen and Tron Dinh Do. 

The shopping center, located at 2400 Sand Creek Road, is home to a number of long term tenants. Anchored by Raley’s, other major tenants include Ross Dress for Less, TJ Maxx, Home Goods, Party City, Krispy Kreme, Round Table Pizza, See’s Candies, Dickey’s Barbeque Pit and Fit Republic, among others.

With its location along Sand Creek Road, the shopping center sees more than 20,000 vehicles per day, according to a property brochure from Colliers, which is in charge of leasing. The property is also within close proximity to State Route 4 as well as several other shopping centers, including The Streets of Brentwood and Slatten Ranch Shopping Center. 

In general, the East Bay retail market has held up fairly well over the course of the last several quarters. According to a recent Northwest Regional Retail Market report by Colliers, the area continues to see decreased vacancy. As of the first quarter of 2022, vacancy across the East Bay decreased by 21 basis points to 8.27 percent. Additionally, the report notes that shopping centers in the East Bay have continued to perform due to the large number of serviced-based retailers signing leases in the area. This includes fitness centers, medical tenants and those in the restaurant sector.

West Coast Commercial Real Estate News