3/9/2007

Garin Ranch Shopping Center in Brentwood sells for $22 million

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Garin Ranch Shopping Center

The Festival Companies purchased the 55,797 sq. foot Garin Ranch Shopping Center in Brentwood, Calif., from Signature Properties for $22 million on March 9.

Signature Properties used Real Capital Markets to market the transaction.

Michael Federle and Nicholas Bicardo of Grubb & Ellis represented both parties in the transaction.

Garin Ranch, located at 8610 Brentwood Blvd., was built in phases from 2003 to 2005 and houses retail and office space.

Festival also acquired a 3.1-acre retail development site, which they to develop over the next two years.

In Jan., Festival purchased the Gucci Building on Rodeo Drive in Beverly Hills for about $40 million. Over the past 25 years, they have been developing and redeveloping over 90 major retail projects across the country.

Address: 8610 Brentwood Blvd., Brentwood, Calif.

Size: 55,797 sq. feet

Built: 2003 and 2005

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Filed Under: Retail

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