Extended-time Andronico’s web site in Berkeley is bought by serious estate organization

BERKELEY — The site of a long-time Andronico’s Community Markets keep has been acquired by a serious estate firm that also ordered a South Bay retail complex previously this yr, in accordance to property paperwork.

The Andronico’s grocery retail store included in the current transaction is found at 1850 Solano Ave. in northern Berkeley, in accordance to documents submitted on May perhaps 27 with the Alameda County Recorder’s Business.

Prado Group, a authentic estate and financial investment business, compensated $15.6 million for the grocery store residence and an adjacent floor parking good deal, the county data show.

At the time of the buy, a Prado Team affiliate received $8.8 million in financing from To start with Republic Lender, according to the residence files.

The just-purchased Berkeley web site fronts on Solano Avenue, Fresno Avenue and Colusa Avenue. A gasoline station adjacent to the grocery residence wasn’t associated in the transaction.

The sellers in the offer involved at the very least a single member of the Andronico household, in accordance to the house data.

The consumer of the Berkeley web page of Andronico’s Group Markets on Solano Avenue owns a quantity of homes in the Bay Place.

Prado Group owns a string of retail buildings in San Francisco’s Marina district, a combined-use residential and retail making in San Francisco anchored by Entire Foodstuff and a retail heart in Oakland anchored by Trader Joe’s, in accordance to the real estate firm’s web-site.

In February, Prado Group paid $33 million for El Gato Village, a Los Gatos community middle whose major anchor is connoisseur supermarket Nob Hill Food items.

With the Prado Group’s order of the Andronico’s web site in Berkeley, the actual estate company now owns a home whose tenant is a venerable identify in the Bay Place grocery organization.

Greek immigrant Frank Andronico launched the to start with Andronico’s store in 1929 on Solano Avenue in Berkeley.

At current, Andronico’s Community Markets operates seven destinations, of which six are in the Bay Place: two in Berkeley, two in San Francisco, just one in Los Altos, 1 in San Anselmo and just one in Monterey, according to the retailer’s internet site.