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$29M Buys Cost Plus Plaza

SAN FRANCISCO-DMP Properties of Newport Beach, CA, acquires the four-tenant, 88,000-sf retail center in the Fisherman's Wharf area from a Hong Kong family trust.

By Brian K. Miller | Updated on November 02, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

SAN FRANCISCO-Cost Plus Plaza near Fisherman’s Wharf has changed hands for $29 million, or $329.54 per sf. The 88,338-sf retail center at Bay and Taylor streets is anchored by Cost Plus World Market, Barnes & Noble and, in a separate building, Petco. Starbucks’ regional headquarters office is on the upper floor of the building occupied by Cost Plus and Barnes & Noble.

The new owner is DMP Properties, a Newport Beach, CA-based private investment group making its first acquisition in the Bay Area. The seller is VICPHIL (US) Inc., a Hong Kong-based family trust. Michael Federle, Nicholas Bicadro and Cynthia Stevenin of Grubb & Ellis had the disposition assignment and also procured the buyer.

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