ALAMEDA — An Alameda retail center perched on the shores of the Oakland Estuary has been purchased by an alliance of California-dependent real estate buyers in a offer that topped $50 million.
Bridgeside Searching Centre, situated at 2531 Blanding Ave., has been bought by DJM Money Companions, which teamed up with its financial companion PGIM to comprehensive the order.
DJM Funds paid $57 million for the buying middle, paperwork filed on June 16 with the Alameda County Recorder’s Business office demonstrate.
“The varied tenant combine features anchor Nob Hill as nicely as essential demands, pet, professional medical, financial provider, and cafe tenants,” according to a push release from DJM Funds.
The heart totals about 105,100 sq. feet, JLL, a business serious estate firm, reported in a promoting brochure.
DJM Funds bought the Bridgeside Procuring Heart through an all-cash deal, the property information display.
The outbreak of the coronavirus has produced a murky outlook for various classes of retailers.
Even so, merchants that supply essential merchandise or companies have been able to face up to the economic jolts that the lethal bug has unleashed to a increased diploma than other retailers.
That is the kind of retailer profile that DJM Capital Associates was searching for by way of its invest in of Bridgeside Procuring Heart, the corporation stated.
“DJM is growing its portfolio of lifestyle- and grocery-anchored everyday wants facilities,” DJM said, concerning the buy of the heart.