LARKSPUR, CALIF. — J.S. Rosenfield & CO. has acquired Larkspur Landing Shopping Center, a 173,000-square-foot retail center in Larkspur, for $65 million. Built in 1978, the 16-acre project is situated on the western edge of the San Francisco Bay and is adjacent to the Larkspur Ferry terminal. The property consists of five one- and two-story multi-tenant buildings that encircle a large public cobblestone courtyard. Additionally, the property has several pad buildings, including a 50,000-square-foot Bed, Bath and Beyond, and parking for approximately 1,000 cars. The center is currently 70 percent occupied. The buyer plans to reposition the center as country mart, an intimate non-anchored, open-air public environment with services, shops, boutiques and food purveyors. San Francisco-based Baldauf Catton Von Eckartsberg Architects is providing architectural services. Renovation plans include the removal of the existing hardscape in the center of the project and replacing it with landscaped picnic and outdoor eating areas, and a children’s playground. Additionally, the country mart will feature several public gardens where restaurant tenants can grow and harvest their own fruits and vegetables.
59
previous post