The property, located at the northeast corner of Oak Grove Toad and Citrus Boulevard is 100% occupied. Tenants include Bank of America, Washington Mutual and Nob Hill Foods. Upgrades to the property will include remodeling the frontages on buildings occupied by the two banks and improve signage and landscaping throughout the property.
Doerken's two other Bay Area centers were both purchased in 1998. The San Marin Plaza in Novato has been upgraded with new landscaping and the addition of a new pad building. A major remodel is to be started in June and the company's other property, Shamrock Village in Dublin. The company estimates the value of the renovated project will be about $14 million.
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