JLL Closes $40.5M Sale of Fremont Retail Centers

Sterling Organization has acquired Franciscan Center and Mohave Center, two adjacent retail properties in the Warm Springs district of Fremont, CA. JLL Capital Markets represented the private seller in the $40.5 million single transaction.

The two centers have a combined total occupancy of 92% and include notable tenants Safeway, Taco Bell, KFC, Burger King, Bank of America and 7-11. They are also in close proximity to the Fremont Tesla plant.

The JLL team representing the seller includes Gleb Lvovich, Daniel Tyner, Geoff Tranchina and Eric Kathrein. “It’s extremely rare to work with original owners dating back half a century,” said Lvovich. “We are thrilled to represent the seller in the disposition of their last owned real estate and happy to work with Sterling Organization on our second transition in the past 12 months.”

“Franciscan Center presented a unique opportunity for a buyer to acquire a well-performing center with immediate upside and growth,” added Tyner.

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