**Flying Horse Investments Acquires Shattuck Plaza in Downtown Berkeley**
Flying Horse Investments LLC (FHI), a Los Angeles-based real estate investment firm, has acquired Shattuck Plaza, a 29,187-square-foot street-front retail property located at 2200–2240 Shattuck Avenue in Downtown Berkeley. The transaction was facilitated by Nicolas Bicardo of Newmark, who represented the seller, Hill Street Realty (HSR). Deal terms were not disclosed.
Originally purchased by HSR in October 2012, the site previously comprised a mix of interconnected retail, office, and entertainment spaces, including the historic Shattuck Cinemas. In 2013, HSR proposed an ambitious 18-story mixed-use development featuring 302 residential units and 12,000 square feet of retail space. After years of planning delays, the proposal was abandoned in early 2020.
In March 2021, HSR divested the theater and office components to Article Student Living but retained the retail frontage — now acquired by FHI.
“Shattuck Plaza represents a rare opportunity to reimagine a prominent retail footprint in one of the Bay Area’s most dynamic, transit-oriented markets,” said Eric Shulman, Managing Principal at Flying Horse Investments. “With UC Berkeley, major civic institutions, and a growing residential base driving demand, we see tremendous potential to reposition the property as a vibrant amenity hub for the community.”
The acquisition marks a new chapter for the long-dormant retail site in the heart of Berkeley and signals FHI’s intent to revitalize the space in alignment with the city’s ongoing growth and transformation.
