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JLL Represents SITE Centers in Sale of Oakland Whole Foods
JLL Capital Markets completed the $44.4-million sale of Whole Foods Bay Place, a 57,218-square-foot, freestanding grocery store in Oakland, on behalf of SITE Centers Corp. The JLL team of Eric Kathrein, Geoff Tranchina, Gleb Lvovich and Warren McClean also procured the undisclosed buyer.
Completed in 2007, Whole Foods Bay Place is fully leased to Whole Foods on a long-term basis. It’s considered the dominant grocer in its market and ranks in the 96th percentile of chain visits nationally. The property is positioned on a 2.18-acre corner lot at 230 Bay Pl., providing visibility from three sides.
“We love bright spots to the Oakland story, and this investor was able to understand the quality of this location and make a great strategic bet,” said Kathrein.
Added Tranchina, “This Whole Foods ranks top among its 22 locations throughout the Bay Area and with 12 years of lease term is a great acquisition with irreplaceable credit.”
- ◦Sale/Acquisition
