Bison Partners Scoops Up Bernal Plaza: The Bay Area Deal Sheet
Southern California-based retail investment firm Bison Partners paid $38M for Bernal Plaza, a 139K SF grocery-anchored shopping center in San Jose. Bison paid about $274 per SF.
Kidder Mathews brokered the off-market transaction, with Senior Vice President Kirk Brummer and Vice President Eric Shain representing the buyer. The center is anchored by brands like Lucky Supermarket, Ross and American Barbell and is about 70% occupied.
PEOPLE
Architecture firm 10 Design expanded its senior leadership, naming Bay Area architect Angela Wu as principal to oversee its regional practice following last year’s merger with SB Architects.
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Maven Commercial merged with Goldman Limited, bringing founder Nadine Whisnant on as principal and significantly expanding its East Bay and Bay Area reach. Whisnant is a veteran retail broker specializing in Northern California retail projects.
SALES
Sack Capital Partners has acquired Fourth & U Apartments, a 171-unit mid-rise with 15K SF of ground-floor retail at 2020 Fourth St. in Berkeley. Built as condos in 2010, 77% of the property is one-bedrooms averaging 700 SF with the remainder made up of two-bed, two-bathroom units averaging 1,100 SF.
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IHP Capital Partners and The Grupe Co. acquired a 2.5-acre infill parcel in San Ramon to develop Aria, a 57-home townhome community near Mount Diablo, with sales slated for early 2026 and completion in 2027.
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Harvest Properties and Stockbridge acquired the 380K SF Clearview Business Park in San Mateo for a reported $102M, with plans to reentitle the 22-acre site into a 225-home for-sale residential community that will include affordable units. The property is partially leased to GoPro through 2026.
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Marcus & Millichap arranged the $16.5M sale of the 52-unit Park Tower Townhomes & Apartments in Castro Valley and $10.8M in acquisition financing. Palo Alto-based Adam Levin, Robert Johnston and Jessica Tomasetti handled the sale, while MMCC’s Chad O’Connor secured a 30-year loan.
FINANCING
Newmark arranged $167.1M in acquisition financing for The Campus at Scott, a 460K SF Class-A office complex in Santa Clara, in one of Silicon Valley’s largest office trades this year. The borrower, a joint venture of Ellis Partners and The Baupost Group, was represented by Newmark’s Ramsey Daya, Chris Moritz and Connor Stapleton.
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Gantry secured a $25M loan to refinance a 38K SF creative office building at 250 Cambridge Ave. in Palo Alto. Gantry’s San Francisco team of Robert Slatt, Murphy Osborne and Joe Foley represented the private investor borrower.
