SAN LEANDRO — A number of chunks of a big searching shopping mall in the East Bay have been purchased by a actual estate team that is also included in the revamp of a different professional sophisticated in Alameda County.
Massive sections of Bayfair Centre, a longtime San Leandro browsing shopping mall, have been bought by a group which is joined to two East Bay real estate executives — Peter Lennon and Adam Goldenberg, according to files submitted on June 14 with the Alameda County Recorder’s Business.
The financial commitment firm, performing by an affiliate, paid out about $57 million for parts of Bayfair Centre, which is located at 15555 E. 14th St. in San Leandro.
The sites that San Leandro JV, the affiliate headed up by Lennon and Goldberg, purchased involve a number of superior-profile retailers as tenants.
Macy’s, Kohl’s department store, Century 16 Bayfair Mall, Bed Bath & Past, Aged Navy, 24-Hour Fitness, Party Metropolis, Ulta Salon, PetSmart, Starbucks, Chili’s Grill and Bar, and San Joaquin Valley School are between the significant tenants working on the just-ordered web pages, a submitting with the County Recorder’s Workplace displays.
The web-site of a Goal keep wasn’t involved in the order. Focus on owns its keep assets at Bayfair Heart, according to paperwork posted with the County Assessor’s Business.
San Leandro JV also obtained a personal loan of $28.5 million from Personal loan Oak Fund at the time of the buy, in accordance to the property records.
B3 Qualities, a group led by Lennon, is also involved in a revival of West Gate Purchasing Center at 1933 Davis St. in San Leandro.
West Gate in San Leandro is a former two-tale automotive manufacturing middle with even larger shops this sort of as House Depot, Ross Gown for Less and Dollar Tree.
The higher floor of West Gate has been converted into quite a few spaces for tech startups, resourceful artists and smaller industrial organizations.
At Bayfair Heart in San Leandro, the internet sites that had been obtained could be changed and redeveloped, files on file with city officials show.
San Leandro is actively studying regardless of whether it can make perception to renovate section of Bayfair Centre into a mixed-use elaborate that could possibly aspect properties, floor-ground retail, offices plazas and open up spaces.
“A vibrant blended-use, transit-oriented retail, commercial and residential destination” could sprout at the latest web page of Bayfair Centre,” a town document states.
No precise strategies have emerged for a redevelopment of the mall. Plus, no timeline has been proposed for any unique progress do the job. The programs that have been viewed as by the metropolis are early-phase efforts and conceptual in character.
Bayfair Centre opened in 1957 with the start of the Macy’s retail outlet as the principal anchor at that time. In modern yrs, Bayfair has come to be far more of a power retail heart — with various major-box tenants — instead than a common indoor shopping mall.
Now, additional changes appear to be in the offing as San Leandro mulls the upcoming of the mall and other regions close to the regional BART station.
“Developing and utilizing a sustainable and vivid Bay Good transit-oriented advancement particular program would empower San Leandro to occur ‘full circle’ in comprehensively setting up and transforming the city’s East 14th Road corridor,” in accordance to the municipal preparing doc.