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Tourmaline Capital Acquires Pacific Pearl Asian Shopping Center For $48.2M

Property Image
SOLD
$48,200,000

California

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Retail110,500 SF
Sold 09/26/2023
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Property Image
SOLD

Tourmaline Capital Acquires Pacific Pearl Asian Shopping Center For $48.2M

2733 Stoneridge Drive

See Similar Deals
Retail110,500 SF
Sold 09/26/2023
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$436
Total Square Footage:110,500 SF
Transaction Type:Sale

The Pacific Pearl Asian shopping center located at 2733 Stoneridge Drive in Pleasanton has been sold for $48.2 million. The retail property spans 110,500 square feet and is situated in the Pleasanton market. The sale price amounts to $436 per square foot.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $48,200,000
  • SF: 110,500
  • PPSF: $436
  • Address: 2733 Stoneridge Drive
  • Market: Pleasanton

Tourmaline Capital, led by President Jonathan Cheng, acted as the buyer for the Pacific Pearl Asian shopping center. On the other side of the transaction, the seller was Blake Griggs Properties, with Bradley Blake serving as their representative. The anchor tenant of the shopping center is 99 Ranch Market. The acquisition of this property marks a significant investment for Tourmaline Capital, expanding their portfolio in the retail sector.

Players

JC
Jonathan Cheng
4 deals$74.9M volume
BUYER

Details

SOLD
IMAGE: Jonathan Cheng & Bradley Blake DATE: 09/26/2023 ADDRESS: 2733 Stoneridge Drive MARKET: Pleasanton ASSET TYPE: Retail BUYER: Tourmaline Capital - Jonathan Cheng SELLER: Blake Griggs Properties - Bradley Blake SALE PRICE: $48,200,000 SF: 110,500 ~ PPSF: $436 NOTE: Tourmaline Capital, led by President Jonathan Cheng, purchased Pleasanton's Pacific Pearl Asian shopping center for $48.2 million, with 99 Ranch Market as the anchor tenant. The 110,500-square-foot center was sold by a Blake Griggs Properties affiliate at $436 per square foot.

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