An Asian-themed shopping center in Pleasanton has been bought in a deal that tops $45 million.
PLEASANTON — An Asian-themed shopping center in Pleasanton has been bought in a deal that shows some retail categories remain popular despite post-coronavirus economic uncertainties.
Pacific Pearl, a retail complex whose anchors include 99 Ranch Market, the nation’s largest Asian supermarket chain, was bought by a group headed up by San Diego-based Tourmaline Capital and its president, Jonathan Cheng, according to documents filed on Sept. 20 with the Alameda County Recorder’s Office.
The buyer group paid about $48.2 million for the retail center, located at 2733 Stoneridge Drive in Pleasanton, the county real estate records show. “A regional drawing, grocery-anchored, Asian-themed and food-centric center” is how a marketing brochure by Lockehouse Real Estate Group describes the retail complex.
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