Construction to Commence Fall 2016
LIVERMORE, CA (July 18, 2016) Summit, NJ based developer RedMill Capital has closed on a $38.6 million construction loan through American National Insurance Company for the development of The Shoppes at Livermore in Livermore, CA. American National, based in Galveston, TX, currently owns and manages Westborough Square Center in South San Francisco and operates a portfolio of properties around the United States.
The Shoppes at Livermore will be a 120,000 square foot retail development located adjacent to the San Francisco Premium Outlets in Livermore, CA. The project will complement the highly successful outlets by adding additional discount fashion retailers, along with quick service food and sit down restaurants. The Shoppes at Livermore will be built on 13 acres south of the Outlet at the intersection of El Charro Road and West Jack London Boulevard. Shoppers and diners will access the center at the traffic light leading to the Outlet, along with two additional entrance lanes off West Jack London Boulevard.
“The Shoppes will take advantage of the 4 million shoppers visiting the Outlet annually and pick up where the Outlet left off with the addition of nationally recognized fashion retailers and great restaurants,” says Jon Stocker, Development Director for RedMill Capital.
The Shoppes provide numerous on site amenities including outdoor seating, pedestrian-friendly crosswalks to the Outlets and a new connection to the Arroyo Trail. The project is slated to begin construction late fall of 2016 with a scheduled completion date in 2017.
About RedMill Capital
RedMill Capital is a privately owned real estate development firm with expertise spanning over 25 years in retail development in the United States and Asia. RedMill focuses on the development of upscale institutional quality retail centers around the United States.
About American National
American National Insurance Company (American National), headquartered in Galveston, Texas, was founded in 1905 and is licensed to conduct the business of insurance in all states except New York. American National and its subsidiaries offer a broad line of products and services which include life insurance, annuities, health insurance, credit insurance, pension products, and property and casualty insurance for personal lines, agribusiness and targeted commercial exposures. For more information, including company news and investor relations information, visit the company’s website at www.AmericanNational.com.