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DUBLIN, CALIF. — American Realty Advisors has acquired Dublin Place Shopping Center, a 283,506-square-foot retail center in Northern California, for $51.1 million. The center is located at 6920-7202 Amador Plaza Road; 7590 Amador Valley Blvd.; and 7505-7533 Dublin Blvd. in Dublin, just east of the San Francisco Bay.
The property is 97 percent occupied. It is anchored by Target, Hobby Lobby, Burlington Coat Factory and Toys R Us.
American plans to upgrade the shop buildings in an effort to bring existing below-market-rate rents up to current market rates. The firm may also eventually add more commercial and residential space to the center.
Both American and the seller, PFRS Dublin Corporation, represented themselves in this acquisition.