Retail Opportunity Investments Corp purchased a Danville grocery-anchored shopping center for $44.5M, or $720/SF.
Arroyo & Co brokers Pedro Arroyo and David Kram repped the seller, a group of private investors spearheaded by the Alamo Group, in the off-market sale. Arroyo also located Retail Opportunity for the deal, a SoCal REIT with 68 shopping centers.
The 62k SF center, Iron Horse Plaza, is anchored by Lunardi's, a regional high-end grocery chain, and sits along the Iron Horse Regional Trail, a former railroad that is now a walking, running and bike path.
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