Local REIT Buys Livermore Shopping Center for $17.5MFriday, July 12, 2013
San Diego-based Retail Opportunity Investments Corp. has purchased a 69,325-square-foot shopping center in Livermore for $17.5 million.
The seller was Granada Retail LLC of Oakland, according to a statement from Hanley Investment Group Real Estate Advisors, which assisted both parties in the off-market transaction.
The 6.39-acre Granada Shopping Center was built in 1965 and is anchored by Lucky Supermarket. It was 91 percent occupied at the time of sale.
Retail Opportunity Investments Corp., also known as ROIC, is a publicly traded real estate investment trust with headquarters in University Towne Center.
— SDBJ Staff Report