Flying Horse Investments LLC (FHI), a Los Angeles-based real estate investment firm, has acquired Shattuck Plaza, a 29,187-square-foot street-front retail property at 2200–2240 Shattuck Ave. in Downtown Berkeley. Nicolas Bicardo from Newmark represented the seller, Hill Street Realty (HSR). Terms weren’t disclosed.

HSR originally acquired the property, then a collection of interconnected retail, office, and entertainment spaces that included the historic Shattuck Cinemas, in October 2012. In 2013, HSR proposed an 18-story mixed-use project featuring 302 residential units and 12,000 square feet of new retail. However, after years of delays, ownership cancelled the project in early 2020.

In March 2021, HSR sold the movie theater and office components to Article Student Living while retaining ownership of the retail frontage, until now. With this transaction, FHI has acquired the long-dormant retail component.

“Shattuck Plaza represents a rare opportunity to reimagine a prominent retail footprint in one of the Bay Area’s most dynamic, transit-oriented markets,” said Eric Shulman, FHI managing principal. “With UC Berkeley, major civic institutions, and a growing residential base driving demand, we see tremendous potential to reposition the property as a vibrant amenity hub for the community.”