This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Transwestern Brokers Sale Of High-Profile Retail Center At Sommersville Towne Center In Antioch, Calif.

ANTIOCH, Calif., April 1, 2013 /PRNewswire/ -- Transwestern today announced that it brokered the sale of a 90,000-square-foot retail property at 2520 Sommersville Road in Antioch, Calif. Formerly the location of a Gottschalks department store, the building is at the point position of the expansive Sommersville Towne Center Mall, currently occupied by Macy's, Sears, Marshalls, Forever 21 and PacSun. The undisclosed investor behind the purchase intends to lease space to synergistic tenants who fit the demographics and needs of the Antioch market.

"This property is an excellent high-exposure, high-identity location, with parking right at the entrance to the Sommersville Towne Center Mall," said Transwestern Senior Vice President and Director of Retail Operations John Sechser, based in Walnut Creek, Calif. Sechser represented both the buyer and seller, NKT Development LLC, of San Luis Obispo, Calif. "There is more than 1 million square feet of retail space in the immediate trade area and very few restrictions on the uses for this property. Additionally, being less than a quarter mile from Highway 4 and fronting Sommersville Road, the space is highly accessible."

The buyer is currently in negotiations with a pair of tenants that would occupy approximately half of the available space, which includes 10,000 square feet of mezzanine. Approximately 45,000 square feet is currently available, at an asking rate of $13 per square foot per year (payable monthly), plus triple net expenses.

"With its outstanding visibility and access to Sommersville Road," added Sechser, "this is clearly a great piece of investment property and an excellent place to do business."

Transwestern Retail Associate Colby Mikulich, also based in Walnut Creek, assisted in the Towne Center transaction.

ABOUT TRANSWESTERNTranswestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, development, research and sustainability. The fully integrated enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. Transwestern facilitates better decision-making for clients by combining penetrating local market intelligence and macro-market research through its affiliate, Delta Associates. Transwestern has 33 U.S. offices and assists clients through more than 180 offices in 36 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate.

For more information, please visit www.transwestern.net and follow us on Twitter: @Transwestern.

SOURCE Transwestern

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,071.22 -41.93 -0.24%
S&P 500 1,977.80 -5.05 -0.25%
NASDAQ 4,505.8520 -6.3420 -0.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs