A joint venture between Sterling Organization and Cohen & Steers has acquired Bridgepointe Shopping Center, a trophy 231,700-square-foot community retail center in San Mateo, Calif., for $127 million.
JLL represented the seller, Nuveen Real Estate, and procured the buyer. JLL also financed the acquisition on behalf of the buyer.
Bridgepointe Shopping Center, originally developed in 1998 and recently renovated in 2023, spans 23.7 acres. The center features a tenant mix including Ross Dress for Less, Marshalls, Nordstrom Rack, Total Wine & More, Chick-fil-A, Five Below and the Container Store, contributing to its 100 percent occupancy rate. The trophy community center is further enhanced by shadow anchors Target and The Home Depot.
Bridgepointe Shopping Center is positioned along Hwy-92 with 1,400 linear feet of frontage, and benefits from its proximity to major employment hubs and residential areas, ensuring a strong daytime population
