San Jose Investors Buy Brentwood Shopping Center For $53M
Sand Creek Crossing, a shopping center in Brentwood, California, was purchased by two investment entities for $53M.
Three San Jose-based individuals control the involved entities: Tron Dinh Do, Huy Truong Nguyen and Khang Truong Nguyen, according to the Mercury News, which first reported the deal. The shopping center totals 252K SF.
The purchasers used a $36M acquisition loan from CTC Bank for the transaction. Tenants include T.J. Maxx, Ross Dress for Less, HomeGoods and a Raley's grocery store.
The Sand Creek sale is the latest in a succession of shopping center deals in the Bay Area in recent months.
Korean Grocery chain H Mart recently filed plans to take over the space of a former 24 Hour Fitness next to its San Francisco location, expanding its footprint.
The San Leandro, California-based Bayfair Center shopping mall recently sold to a local joint venture for $57M as a possible site for redevelopment.
