East Bay buying middle that prospered even with COVID is bought by San Jose group

BRENTWOOD — A massive Contra Costa County procuring center that has stayed full irrespective of financial uncertainties spawned by the coronavirus has been purchased by a group of San Jose-centered investors.

Sand Creek Crossing, a retail sophisticated in Brentwood, has been purchased by affiliates headed up by 3 people today, according to documents submitted on Aug. 17 with the Contra Costa County Recorder’s Office.

The procuring heart, positioned at a large-profile web site in the vicinity of a freeway interchange in jap Contra Costa County, was bought for $53 million, the county residence documents present.

“Sand Creek Crossing is a solid centre,” stated Michael Mundelius, a vice president with Colliers International, a professional true estate firm. Mundelius is handling the promoting for the shopping mall.

Raley’s supermarket, T.J. Maxx section keep, Ross Gown for A lot less low cost division retailer, HomeGoods house furnishing and Bash Town are amid the major stores at Sand Creek Crossing. Metropolis Household furniture, Round Table Pizza and Peet’s Espresso & Tea are other properly-recognized retailers in the searching heart.

“All of the tenants are great retailers,” Mundelius claimed. “The tenants have performed pretty perfectly even throughout COVID.”

The procuring center is found in close proximity to the interchange of State Route 4 and Sand Creek Road in Brentwood.

The purchasers ended up two financial commitment entities headed up by three San Jose-primarily based men and women: Tron Dinh Do, Huy Truong Nguyen and Khang Truong Nguyen, the county records present.

The getting affiliate marketers also acquired $36 million in financing at the time of the buy from Los Angeles-based CTC Financial institution, in accordance to the public documents.

“A lot of the outlets are low cost retailers or remained open during COVID,” Mundelius mentioned. “Discount suppliers have accomplished really well” for the duration of and just after the worst time period of the coronavirus.