JV Pays $127M for Community Retail on San Francisco Peninsula

JLL Capital Markets arranged the $127-million sale of Bridgepointe Shopping Center, a trophy 231,700-square-foot community retail center in San Mateo. Managing directors Eric Kathrein and Daniel Tyner, senior managing directors Geoff Tranchina and Gleb Lvovich, director Warren McClean and senior managing director Danny Finkle represented the seller, Nuveen Real Estate, and procured the buyer, a joint venture between Sterling Organization and Cohen & Steers. JLL also financed the acquisition on behalf of the buyer.

“The sale of Bridgepointe Shopping Center underscores the continued investor appetite for well-positioned, high-quality retail assets in prime locations,” said Kathrein. “This trophy property’s exceptional tenant mix, coupled with its strategic location in the heart of the San Francisco Peninsula, makes it a valuable addition to Sterling Organization’s portfolio.”

Originally developed in 1998 and renovated in 2023, the 100% occupied Bridgepointe Shopping Center spans 23.7 acres. The tenant mix includes Ross Dress for Less, Marshalls, Nordstrom Rack, Total Wine & More, Chick-fil-A, Five Below and the Container Store.