WALNUT CREEK, CA-Rossmoor Retail Partners LLC, a venture of Tallen & Keshen Holdings, Citivest Commercial and an account managed by BlackRock has acquired Rossmoor Town Center. The 106,281-square-foot project is located in the East Bay suburb of Walnut Creek, CA and is currently anchored by Safeway and CVS.
The future plans for the project include updating the anchor tenants and repositioning the property into a “vibrant shopping center” including a variety of new retailers, restaurants, medical office space and other amenities in order to best serve the needs of local residents and the surrounding communities, according to a prepared statement. While Rossmoor Retail Partners tells GlobeSt.com that is cannot release the price at this time, GlobeSt.com learns that it changed hands for $35 million.
Project leasing will be handled by Tallen & Keshen Holding's wholly owned subsidiary Retail Enterprise Group Inc. in cooperation with Bay Area brokerage firm, Terranomics Retail Services. Cassidy Turley San Francisco is the property manager.
Bank of America provided acquisition debt and Holiday Fenoglio Fowler represented the buyer in the bank financing. The seller was an institutional pension fund managed by Washington Capital Management Inc. and was represented by the San Francisco office of CBRE.
Tallen & Keshen Holdings is a full service entrepreneurial retail and mixed-use development and investment company with offices and properties on the West Coast and the Southwestern US. Tallen & Keshen Holdings and Citivest are currently seeking additional value added redevelopment projects on a national basis, according to a statement.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
