3VG Acquires 10-Acre JC Penney Site at Stoneridge Mall
Danville, CA-based real estate firm, 300 Venture Group (3VG), has purchased the JC Penney site at Stoneridge Mall in Pleasanton, CA. Newmark’s Nicholas Bicardo represented the seller in the transaction. Terms were not disclosed.
An original anchor at Stoneridge, the 156,000-square-foot building is in a prime location, near the intersection of Interstates 580 and 680, and across the street from BART. “We look forward to working with the community and stakeholders to create an innovative vision and execution of the property,” said Kameron Klotz, a founding principal of 3VG.
The Stoneridge complex has seen major investment and redevelopment interest in the last three years. Workday’s headquarters are across the street and biotech company 10x Genomics has a building under construction at the former Pleasanton Plaza retail center.
Located approximately 35 miles east of San Francisco, Pleasanton boasts one of the top school systems in California and is one of the wealthiest middle-sized cities in the U.S.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.