MARIN CITY, NAPA, CALIF. — Cassidy Turley Northern California has sold two area shopping centers for a total of $55.8 million. The first is the Marin Gateway Shopping Center in Marin City, which sold for $36 million. The buyer was an affiliate of the Gerrity Group. The seller was the Bay Area Smart Growth Fund, an affiliate of PCCP, LLC in partnership with the Marin County Community Development Corporation.
The second was Kohl’s Parkway Plaza Shopping Center in Napa, which sold for $19,825,000. The buyer was an affiliate of Cole Real Estate Investments. Cole was represented in-house by Scott Holmes, vice president of acquisitions. The seller was an affiliate of Lubert Adler Partners. Cassidy Turley’s Dan Wald and Dave Nord led the marketing team for both properties. Mark Koenig and John Schaefer of Cassidy Turley Northern California’s retail leasing division, Terranomics Retail Services, also participated in the marketing effort as leasing market specialists.