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California  + Bay Area  + Industrial  | 

Beleaguered Hilltop Mall Gets New Lease on Life

San Francisco’s Prologis recently purchased the sparsely populated 78-acre Hilltop Mall in Richmond for $117 million, finally taking the retail center off of life support with a massive development proposal. Plans call for a mixed-use application with logistics, retail and housing.

“The acquisition of the Hilltop Mall marks the beginning of our efforts to pursue a mixed-use development that includes residential, retail and modern logistics facilities, which will spur further reinvestment, job growth and economic opportunity,” according to the Prologis statement. “We are excited to make this investment in the community and are deeply committed to working with the city of Richmond and residents to promote the revitalization of the Hilltop area.”

The mall’s Macy’s store closed last month. This closure, which followed the loss of the JC Penney and Sears stores, left Walmart as the lone major tenant at the 45-year-old center.

Hilltop Mall opened in September 1976, built on land previously occupied by an oil storage tank farm owned by the Chevron Corporation. It was last acquired in 2017 by LBG Real Estate Companies and Aviva Investors.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Acquisition
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