August 2016
Arroyo & Company and Colliers are pleased to announce the sale of Shops at Broadway, a 36,816 square foot newly constructed grocery and pharmacy anchored shopping center on the edge of downtown, Oakland, California. The center is anchored by Sprouts Farmers Market, a national chain that has now opened several locations throughout the Bay Area, Walgreens, Starbucks, Chipotle, and Sleep Train.
Oakland is one of the Bay Area’s fastest expanding markets. The Shops at Broadway, located on the corridor known as Auto Row, represents a lead project in the revamping of retail and housing in the area. Over the next 25 years, the City of Oakland anticipates plans that include the construction of one million SF of retail, 18,000 new housing units, and 700,000 SF of office space.
The deal was sold off market by a group of Bay Area developers who recently finished constructing the project. The Buyer was represented by Arroyo & Company, headquartered in San Francisco, and Colliers out of San Diego. Pedro Arroyo and David Kram of A&C, and Mark Lewkowitz of Colliers were the Brokers that managed the transaction.
Arroyo & Company specializes in the acquisition and disposition of commercial and multifamily properties. Please contact us if you would like a market update, opinion of value, additional information regarding this transaction, or to discuss off market opportunities. Arroyo & Company has closed over $230M in off market transactions in the last two years. Please keep us in mind for your next exchange. acdeals@a-c.com