JLL Capital Markets recently facilitated the sale of Bridgepointe Shopping Center, a highly sought-after community retail center in San Mateo. The property, which spans 231,700 square feet and is considered a trophy asset, was sold for $127 million. JLL’s team of experienced managing directors Eric Kathrein and Daniel Tyner, along with senior managing directors Geoff Tranchina and Gleb Lvovich, director Warren McClean and senior managing director Danny Finkle represented the seller Nuveen Real Estate in this transaction. They also successfully procured the buyer – a joint venture between Sterling Organization and Cohen & Steers. Additionally,JLL arranged financing on behalf of the buyer.
According to Kathrein: “The sale of Bridgepointe Shopping Center highlights investors’ continued interest in prime retail properties located in strategic locations.” He further added that “the property’s excellent mix of tenants combined with its prime location on San Francisco Peninsula makes it an attractive addition to Sterling Organization’s portfolio.”
Originally built-in 1998 but renovated as recently as 2023,the fully occupied shopping center sits on over 23 acres.The tenant roster includes popular brands such as Ross Dress for Less,Mashalls,Nordstrom Rack,and Total Wine & More among others like Chick-fil-A,Five Below,and The Container Store.
This deal marks another successful transaction by JLL Capital Markets showcasing their expertise at facilitating high-value deals within competitive markets.
