SRS Real Estate Partners announced today it has completed the $17.7 million sale of Mountain Shadows Plaza, a 77,651-square-foot multi-tenant retail center located at 901, 941, 967 and 968 Golf Course Drive in Rohnert Park, Calif., a city in Sonoma County located in the North Bay region of the San Francisco Bay Area. Situated on 7.45 acres, the five-building property was 97% occupied at the close of escrow with its largest tenant being Walmart Neighborhood Market, as well as Starbucks and Anytime Fitness, among others.
SRS Capital Markets Senior Vice President & Principal John Redfield and Vice President Joe Chichester represented the seller, a special purpose vehicle controlled by Oak Cap Ventures LLC (OCV).
“This transaction delivered an excellent sale price for the seller, who had acquired the asset and enhanced its value through improved operations, strategic leasing, and planned an expansion of the existing strong-performing Walmart Neighborhood Market anchor,” said Redfield. “The buyer, a private syndicator, was attracted to the location, the tenant mix, and the stability provided by the investment-grade grocery anchor.”
“This asset represents a rare combination of credit tenancy and consistent foot traffic in a tightly held submarket,” said Chichester. “Investors continue to gravitate toward grocery-anchored centers like Mountain Shadows Plaza because they provide durable income and insulation from market volatility. The property’s fundamentals made it an attractive offering, and these types of assets will continue to drive interest from sophisticated retail investors.”
Mountain Shadows Plaza is well-located just two miles from Sonoma State University. The property is within an affluent trade area with an average household income of $141,000 within a one-mile radius.
This year, SRS Capital Markets has completed more than $2.2 billion in deal volume comprised of more than 650 transactions across the nation. SRS currently has in excess of 845 properties actively on the market with a market value surpassing $3.7 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.
About Oak Cap Ventures LLC (OCV)
Headquartered in the San Francisco Bay Area, with satellite offices in Los Angeles, New York and Phoenix, OCV is an entrepreneurial private real estate investment company dedicated to acquiring, financing, and managing single-tenant net-lease (STNL) retail and grocery anchored shopping center assets across the United States. OCV combines the agility and creativity of a boutique operator with the discipline, rigor, and governance standards of an institutional platform.