Exclusive: Stockbridge Sells Bay Area Retail Center for $43M
The property previously traded in 2013.
Stockbridge Capital Group has sold Pinole Valley Shopping Center, a 66,000-square-foot retail property in Pinole, Calif., for $42.7 million, or $647 per square foot, according to Yardi Matrix information. Asana Partners bought the retail center.
The previous owner purchased the asset in 2013 for $38 million, or $576 per square foot, same data provider shows.
Located at 2696 Pinole Valley Road in Contra Costa county, the property is just off Interstate 80, which connects it to the northeastern and southeastern parts of the Bay Area. San Francisco is within 23 miles.
READ ALSO: Retail Investment Sales Volume Rises
Completed in 1990 on 6 acres, Pinole Valley Shopping Center comprises four single-story buildings. The anchor tenants are Walgreens, which is currently leasing 14,820 square feet, and Trader Joe’s, with 12,000 square feet. The tenant roster also includes Subway, Five Guys, Chipotle and T-Mobile. Crosspoint Realty Services oversees leasing.
Improved occupancy in the Bay Area
Also in Contra Costa, Sterling Organization purchased Rossmoor Shopping Center this April, a 118,846-square-foot retail center in Walnut Creek, Calif., for $61.1 million. U.S. Bank originated a $35.8 million loan for the transaction.
The Pinole Valley and Rossmoor retail deals come amid occupancy improvement across the Bay Area as of the second quarter of 2026, according to a John Cumbelich & Associates report, which surveys 25 centers in the region, totaling 13.1 million square feet. Occupancy in the market was up to 94.1 percent, the highest level across the region since the first quarter of 2022. Retail market trends show the growth was seen particularly in the East Bay, as the area recorded roughly 46,000 square feet of positive net absorption.
You must be logged in to post a comment.