CBRE Retail Capital Markets has been awarded the listing for the sale of Fallon Gateway, a 200,888-square-foot grocery-anchored retail center in Dublin, CA that is shadow anchored by Target.
James Kaye, Jay Gomez, Lindsey Snider and Matt Kircher of CBRE’s Bay Area Retail team are representing the seller, Stanforth Holding Company, LLC. This is the first time the property has been available for sale.
Serving the Tri-Valley trade area, Fallon Gateway is a newly constructed suburban retail center anchored by Target (NAP), Lucky’s California, Dick’s Sporting Goods, PetSmart and Guitar Center. The property is 96% occupied and features a large selection of popular shops and restaurants.
“Fallon Gateway is an institutional quality San Francisco Bay Area investment opportunity owned and operated by the original developer,” said Jay Gomez, Senior Vice President, CBRE. “The center is strategically located in the path of growth and will only improve with time and increasing residential density.”
Fallon Gateway is located at 2800 Dublin Boulevard, providing unobstructed visibility and convenient access to Interstate 580. The retail center is also adjacent to the 697,000-square-foot San Francisco Premium Outlets which includes 180 stores. The Tri-Valley trade area serves over 220,000 people with average household income in excess of $152,000 within a five-mile radius. With median home value in Dublin at $914,400, Dublin home values have gone up 8.4 percent over the past year and are predicted to rise another 8.4 percent within the next year according to Zillow.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
