Primestor Development announced it has completed the $36.5 million acquisition of Hilltop Plaza, a 245,921-square-foot community retail center in the East Bay city of Richmond, Calif. Located at 3190-4251 Klose Way, Hilltop Plaza is situated atop 59 acres and boasts access and visibility with 2,500 linear feet of frontage along Interstate 80.
JLL represented both Primestor and the seller in the transaction.
“We are excited to enter the Northern California market and continue to build on our momentum with another acquisition in a challenged transactional market,” said Alán Sneider, vice president of acquisitions at Primestor. “Hilltop Plaza matches our criteria and goals for redeveloping centers tailored to the communities they serve. This is a great property with which to expand our portfolio.” In a recent interview with CoreNet Global, Sneider discussed Primestor’s emphasis on attracting equitable retail investment in undersupplied communities, which he exp
