{"id":1004753868,"date":"2025-04-09T03:27:56","date_gmt":"2025-04-09T11:27:56","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004753868"},"modified":"2025-04-09T03:35:18","modified_gmt":"2025-04-09T11:35:18","slug":"sterling-buys-bay-area-retail-center-for-61m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sterling-buys-bay-area-retail-center-for-61m\/","title":{"rendered":"Sterling Buys Bay Area Retail Center for $61M"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Rossmoor-Shooping-Center-in-Walnut-Creek-Calif.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"916\" height=\"687\" data-attachment-id=\"1004753870\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/rossmoor-shooping-center-in-walnut-creek-calif-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Rossmoor-Shooping-Center-in-Walnut-Creek-Calif-edited.jpg\" data-orig-size=\"916,687\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Rossmoor Shooping Center in Walnut Creek, Calif.\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Rossmoor-Shooping-Center-in-Walnut-Creek-Calif-edited.jpg?w=916\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Rossmoor-Shooping-Center-in-Walnut-Creek-Calif-edited.jpg\" alt=\"Aerial shot of Rossmoor Shopping Center, an eight-building, 118,846-square-foot property in Walnut Creek, Calif.\" class=\"wp-image-1004753870\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Rossmoor-Shooping-Center-in-Walnut-Creek-Calif-edited.jpg 916w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Rossmoor-Shooping-Center-in-Walnut-Creek-Calif-edited.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Rossmoor-Shooping-Center-in-Walnut-Creek-Calif-edited.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 916px) 100vw, 916px\" \/><\/a><figcaption class=\"wp-element-caption\">Rossmoor Shopping Center comprises eight buildings across a 13-acre site. <em>Image courtesy of Sterling Organization<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Sterling Organization has purchased Rossmoor Shopping Center, a 118,846-square-foot retail center in Walnut Creek, Calif., for $61.1 million. <\/p>\n\n\n\n<p>Citivest sold the asset after 13 years of ownership, according to CommercialEdge information. Sterling financed the purchase with a $35.8 million loan from U.S. Bank.<\/p>\n\n\n\n<p>The buyer purchased the asset on behalf of Sterling United Properties II LP, its $267 million equity fund. Following the Walnut Creek acquisition, the fund now owns 17 grocery-anchored retail properties totaling more than 1.2 million square feet.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-rossmoor-shopping-center-up-close\">Rossmoor Shopping Center, up close<\/h2>\n\n\n\n<p>Rossmoor Shopping Center previously traded in 2012, when Citivest acquired it for $33.9 million, the same source shows. Completed in 1966 at 1900-1998 Tice Valley Blvd., the retail center comprises eight buildings across a 13-acre site. <\/p>\n\n\n\n<p>A 25,191-square-foot Safeway store and a 14,500-square-foot CVS pharmacy anchor the property. The tenant roster features as John Muir Health, Starbucks, Chase Bank, Wells Fargo Bank, Crumbl Cookie, Taco Bell, Mountain Mike&#8217;s Pizza, USPS, Salons by JC and UPS.<\/p>\n\n\n\n<p>The retail property is near Interstate 680, which connects the property to Oakland, Calif., and San Francisco. The center serves a population of more than 70,000 individuals living within a 3-mile radius, with average household incomes of roughly $220,000 per year.<\/p>\n\n\n\n<p>Grocery-anchored properties remain resilient in the current retail landscape, alongside fast food, beauty and sporting goods, a recent <a href=\"https:\/\/www.commercialsearch.com\/news\/retails-2025-outlook-a-tale-of-diverging-trends\/\">Datex report<\/a> shows.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This property previously traded for $34 million in 2012.<\/p>\n","protected":false},"author":3619,"featured_media":1004753870,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21749,1609,15],"tags":[33732,36215],"class_list":["post-1004753868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-retail","category-san-francisco","category-west","tag-citivest","tag-sterling-organization"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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