{"id":1004185252,"date":"2017-07-27T03:43:09","date_gmt":"2017-07-27T11:43:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004185252"},"modified":"2022-12-08T12:21:57","modified_gmt":"2022-12-08T20:21:57","slug":"lbg-aviva-nab-mammoth-ca-shopping-mall","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lbg-aviva-nab-mammoth-ca-shopping-mall\/","title":{"rendered":"LBG, Aviva Nab Mammoth CA Shopping Mall"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

\"Hilltop<\/a>

Hilltop Mall interior<\/p><\/div>\n

A joint venture between LBG Real Estate Cos. and Aviva Investors has acquired Hilltop Mall, a 1,100,000-square-foot regional mall in the East Bay city of Richmond, Calif.<\/p>\n

\u201cThe property has all of the fundamental elements of a really successful retail development and has only suffered because of its ownership history,\u201d <\/em>Leslie Lundin, LBG\u2019s managing partner, told Commercial Property Executive<\/em>. \u201cIt\u2019s a true diamond in the rough and we believe that we can bring it back not only to the glorious retail center that it once was and go even further by doing the residential and future commercial development that is so desired by the community.\u201d<\/em><\/p>\n

Located at 2200 Hilltop Mall Road, the property was originally constructed in 1976 and renovated about a decade ago. The tenant roster includes Macy\u2019s, Walmart, Sears, and 24-Hour Fitness.\u00a0<\/p>\n

The mall sits on\u00a0nearly 77 acres of land and offers views of the San Francisco Bay. It\u2019s about 20 miles northeast of San Francisco, and 25 miles south of Napa, making it a 30-minute drive from San Francisco, Oakland, Berkeley, Walnut Creek, Napa and Marin County. \u00a0\u00a0<\/p>\n

\u201cI would say that the area has been improving but it actually didn\u2019t need to as it\u2019s very\u00a0Irvine-like\u00a0already,\u201d <\/em>Lundin said. \u201cMost people just don\u2019t realize this.\u00a0Richmond overall is experiencing a renaissance however which is certainly beneficial.\u00a0Malls all over the Bay Area are successfully going through similar transformations.\u00a0This is one of the last ones available.\u201d<\/em><\/p>\n

Long-Lasting\u00a0Strategy<\/h2>\n

According to Lundin, the company aims to implement an entirely new merchandising strategy for the mall as well as extensive rebranding and redevelopment. The retail redevelopment will include significant upgrades to the building exterior, interior common areas, and signage surrounding the property.\u00a0<\/p>\n

\u201cWe love to fix\u00a0broken retail<\/a>.\u00a0That\u2019s been our background for the past 25 years,\u201d <\/em>she added.\u00a0\u201cIt\u2019s extremely rewarding to go into a city and turn around such an iconic property.”<\/em><\/p>\n

LBG will also explore a larger redevelopment to take advantage of the zoning in place which would allow for more than 9,600 housing units at the property, plus possible office and hotel components.<\/p>\n

\u201cThe views are spectacular. The proximity to so many major markets, the fact that it has its own ramp off of I-80 and the surrounding demographics are just a few of the items that make this an extraordinary property,\u201d <\/em>Lundin said. \u201cWe are starting interior and exterior improvements immediately and will continue for the next few years as we re-tenant the space.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The JV aims to implement an entirely new merchandising strategy for the asset as well as extensive rebranding and redevelopment. The property sits on nearly 77 acres of land and offers views of the San Francisco Bay.<\/p>\n","protected":false},"author":451,"featured_media":1004185275,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,21742,21749,1609,15],"tags":[36987,36986,36988],"class_list":["post-1004185252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-latest","category-retail","category-san-francisco","category-west","tag-aviva-investors","tag-lbg-real-estate-companies-llc","tag-leslie-lundin"],"acf":[],"yoast_head":"\nLBG, Aviva Nab Mammoth CA Shopping Mall - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lbg-aviva-nab-mammoth-ca-shopping-mall\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LBG, Aviva Nab Mammoth CA Shopping Mall\" \/>\n<meta property=\"og:description\" content=\"The JV aims to implement an entirely new merchandising strategy for the asset as well as extensive rebranding and redevelopment. 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