JLL Capital Markets recently closed the sale of Whole Foods Bay Place, a 57,218-square-foot grocery store located in Oakland. The property was sold for $44.4 million on behalf of SITE Centers Corp. The JLL team responsible for the transaction included Eric Kathrein, Geoff Tranchina, Gleb Lvovich and Warren McClean who also secured an undisclosed buyer.
Built in 2007 and fully leased to Whole Foods on a long-term basis, this location is considered the dominant grocer in its market and ranks within the top 96th percentile nationally for chain visits. Situated on a corner lot spanning over two acres at 230 Bay Pl., this property boasts visibility from three sides.
According to Eric Kathrein: “We are always looking for bright spots in Oakland’s story and this investor recognized the quality of this location as well as made a strategic investment.”
Geoff Tranchina added that: “This particular Whole Foods ranks among their top locations out of their total portfolio of twenty-two stores throughout the Bay Area. With twelve years remaining on its lease term and irreplaceable credit backing it up makes it an excellent acquisition.”
