Two Retail Centers Trade for $40M in Bay Area Submarket

Sterling Organization has acquired the Franciscan Center, a 106,840-square-foot retail center, and Mohave Center, a 10,228-square-foot strip center, located in Fremont, California from a private seller. The properties traded for $40.45 million.

The properties are located in a submarket of the Bay Area and have an occupancy of 92%. Tenants include Safeway, Taco Bell, KFC, Burger King, Bank of America and 7-Eleven.

Franciscan Center is located at 46690-46850 Warm Springs Rd., and Mohave Center is located at 46650 Mohave Dr.

The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Director Gleb Lvovich, Senior Director Daniel Tyner and Managing Directors Geoff Tranchina and Eric Kathrein.