Work Set To Start At Shoppes At Livermore After $38.6M Loan
The 120k SF Shoppes at Livermore project is set to start this fall after securing a $38.6M construction loan from American National. The RedMill Capital-developed project, next to San Francisco Premium Outlets, will be marketed by Colliers International.
New Jersey-based RedMill chose the site to cater to an affluent retail base. “The Shoppes will take advantage of the 4 million shoppers visiting the outlet annually and pick up where the outlets left off with the addition of nationally recognized fashion retailers and great restaurants,” says RedMill development director Jon Stocker.
EVP Julie Taylor and SVP Stephen Rusher, both shown above, from Collier’s San Francisco office will lead the effort to market the property as mixed-use retail. “With official groundbreaking still months away, interest from potential national-brand and local tenants had been overwhelming,” Stephen says.
The 13-acre Shoppes will have discount fashion retail and quick-service restaurants. In line with modern retail design, the company plans to provide amenities such as outdoor seating and crosswalks that will connect to recreation areas. RedMill projects the project to finish in 2017.