Santa Rosa and Novato, Calif. — Cushman & Wakefield has arranged the sales of two shopping centers in Northern California for a combined value of $47 million.
Dan Wald and Don LeBuhn of Cushman & Wakefield arranged the sale of a 49,990-square-foot shopping center in Santa Rosa on behalf of the seller, SPI Holdings. T.J. Maxx and Staples anchor the center. Terry Daly of Cushman & Wakefield arranged acquisition financing for the property on behalf of the buyer, a private capital partnership, who acquired the asset through a 1031 exchange. In the second transaction, Wald and LeBuhn arranged the sale of Pacheco Plaza Shopping Center, a 66,619-square-foot retail center in Novato, on behalf of the seller and original developer. The buyer was not disclosed. Nugget Market anchors Pacheco Plaza Shopping Center, which was 92 percent leased at the time of sale to Chase Bank and 20 other retail and restaurant tenants.