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Two Bay Area Retail Properties Sell for $37.5M

SAN JOSE-Two retail properties in the Bay Area were purchased by individual investors, showing that in comparison to other commercial sectors the retail market is holding up very well.

By Michelle Savage | Updated on March 26, 2002

SAN JOSE-Separate investors have purchased Two Bay Area retail properties recently. A San Jose property sold for $36 million, while a San Francisco property sold for $1.16 million.

The Westgate West Shopping Center, a 235,000-sf retail complex in San Jose, was purchased by individual investors from Westfield Corp. Inc. for $36 million. The shopping center sits on 19 acres of land at Prospect Road and the Lawrence Expressway. Its tenants include Trader Joe’s, Long’s Drugs, Orchard Supply and McDonald’s.

2045-49 Divisadero St., a retail/residential property in San Francisco, was purchased by individual investors, Jimmy Goh and Sharon Jen for $1.16 million. Debra Dolch sold the property, which includes a 3,000-sf, ground-floor retail unit and three apartments totaling 4,500-sf.

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