Find in the news:
BY COUNTRY

JV Scoops Up Massive 1.1M SF Mall On California’s East Bay



The massive property offers up views of the San Francisco Bay, and it was most recently renovated about a decade ago.
LBG Real Estate Cos. and Aviva Investors have teamed up for a joint venture to acquire the Hilltop Mall, a 1,100,000-square-foot property that sprawls across nearly 77 acres of land the East Bay city of Richmond, California. Leslie Lundin, LBG’s managing partner, offered up some thoughts on the acquisition during an interview with Commercial Property Executive.

Hilltop Mall

“The property has all of the fundamental elements of a really successful retail development and has only suffered because of its ownership history,” she said. “It’s a true diamond in the rough, and we believe that we can bring it back not only to the glorious retail center that it once was and go even further by doing the residential and future commercial development that is so desired by the community.”

Current tenants include 24-Hour Fitness, Macy’s, Sears and Walmart, and the property is conveniently located in a driving distance of all of the Bay Area’s hot spots. 

“I would say that the area has been improving, but it didn’t need to as it’s very Irvine-like already. Most people just don’t realize this. Richmond overall is experiencing a renaissance however which is certainly beneficial,” Lundin added. “Malls all over the Bay Area are successfully going through similar transformations. This is one of the last ones available.”

No word on what the price tag was for this massive transaction, but the JV has its sights set on reviving this huge mall into a retail hub. 

“We love to fix broken retail. That’s been our background for the past 25 years. It’s extremely rewarding to go into a city and turn around such an iconic property. The views are spectacular. The proximity to so many major markets, the fact that it has its ramp off of I-80 and the surrounding demographics are just a few of the items that make this an extraordinary property,” Lundin continued. “We are starting interior and exterior improvements immediately and will continue for the next few years as we re-tenant the space.”

It’s easy to see why the JV is excited about the potential of Hilltop Mall, as the Bay Area of California is booming. It sounds like they have a plan in place to maximize the property’s potential as well, so it’ll be interesting to track the progress of the Hilltop Mall.  

Related shopping malls and stores:

More about shopping malls in the USA



YESTERDAY, USA:
It will be the most significant expansion in Sephora's history, demonstrating its confidence in the retailer's future.
YESTERDAY, USA:
Shortly, 17 Apple mini-stores will open in hypermarkets across the country. The company intends to start opening such outlets in the fall.
DAY BEFORE YESTERDAY, India:
The vast mall's construction will cost $760 million, and the project is expected to be completed in seven years.
DAY BEFORE YESTERDAY, United Kingdom:
The brand plans to close 95 stores nationwide while paying reduced rent for the remainder of the term.
Feb 24, 2021, USA:
Old Spice Barber Shop will also serve as a brand store, digital content studio, and experience lab for new product developments.
Feb 24, 2021, USA:
The company managed to retain its place as the largest retailer in the U.S., with Amazon in second place.
Friend
and Follow
Charlotte Premium Outlets GLA:400 000 SF
ADDRESS: 5404 New Fashion Way Suite 100, Charlotte, NC 28278
USA . Charlotte
Charlotte Premium Outlets
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007
Arkadia GLA:1 184 030 SF
ADDRESS: Aleja Jana Pawla II 82, 00-175
Poland . Warsaw
Arkadia
Central Children's Store GLA:370 192 SF
ADDRESS: Teatralnyi proezd, 5
Russia . Moscow region
Central Children's Store


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us