Passco purchased Hoover Marketplace from Hoover Market place LLC for $6.45 million. Located at First Street and Bullard Avenue in the City of Fresno, the center is anchored by Albertson's supermarket, Blockbuster, Supercuts and H&R Block, and other established retail chains.
William Winn, Chief Operating Officer of Passco says, "Not only does Hoover Marketplace serve a strong and growing trade area, it is the only grocery-anchored center in a two-mile radius."
Reza Etedali of Sperry Van Ness represented the buyer, and Matthew Sullivan of Marcus & Millichap represented the seller in the transaction.
In a separate acquisition, Passco purchased Northern Village Shopping Center from Klein Financial for $4.2 million.
Located at the Southwest corner of First Street and Herdon Avenue, the 30,706-sf center is 98% leased to national retailers and local merchants. T.G.I. Fridays anchors the development along with Birkenstock, Village Pizza, Hogi Yogi, Pacific Seafood, Village Liquor, ACT I Personnel and Fresno School of Music.
Alan Kruger of Marcus & Millichap represented the buyer, and Matthew Sullivan of Marcus & Millichap represented the seller in the transaction.
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