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Zapolski Rudd, Reininga Buy Temescal Plaza

OAKLAND, CA-The partnership acquires a 44,362-sf center with a value-add opportunity from its developer, Berkeley Land Co.

By Brian K. Miller | Updated on June 04, 2007

OAKLAND, CA-Berkeley Land Co. of Walnut Creek, CA has sold Temescal Plaza, a 44,362-sf retail center here that it developed in the latter half of the 1990s. The four-building center at 5055 Telegraph Ave. is 93% leased to six tenants including Walgreens, Genova Deli, H&R Block, California Bank and Trust and the United States Post Office. The sale price was $14 million.

The new owner is a partnership of two San Francisco-based companies, the real estate investment management firm Zapolski Rudd LLC and retail developer Reininga Corp. For Zapolski Rudd, the center represents the up-leg of a 1031 exchange; the down-leg was the December 2006 sale of 580 Market St. in Downtown San Francisco.

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