The changing face of Stoneridge Mall continues as Shopoff Realty Investments and JV partners Praelium Commercial Real Estate and Singerman Real Estate have acquired the former Nordstrom building in Pleasanton, CA. The East Bay city has designated Stoneridge Mall as a redevelopment site and Shopoff is exploring housing, office and mixed-use retail as potential new uses. Terms of the deal were not disclosed.

“This asset represents an opportunity to acquire a significant piece of property in a highly desirable market in Northern California. We are looking forward to working with the City of Pleasanton to repurpose this property and deliver much needed new housing and other uses for the community,” said Shopoff CEO William Shopoff.

The acquisition comes on the heels of Simon Property Group’s announcement that it has filed plans to convert a Stoneridge Mall parking structure into a 360-unit, five-story residential campus. The six-acre project will be located between the mall and the 10X Genomics campus on Stoneridge Mall Road.