THE OPPORTUNITY

In March 2023, Shopoff acquired 8.37 acres that includes a former Nordstrom building and adjacent parking lot at the Stoneridge Mall in Pleasanton, California. This property was purchased for $16 million in a joint venture with Praelium Commercial Real Estate, and an affiliate of Singerman Real Estate, LLC.

The property is strategically located at the junction of the I-580 and I-680, and is within walking distance of the West Dublin BART station, providing easy access to major business markets in the region, including Silicon Valley, San Jose, Oakland, and San Francisco, ideal for future residents and/or tenants.

HOW SHOPOFF IS ADDING VALUE

In January 2023, the City of Pleasanton adopted its 2023-31 Housing Element Plan in an effort to meet state-mandated housing requirements. The Plan identifies sites available for redevelopment, including the Stoneridge Mall.1 The firm has discussed entitlements for residential and alternative uses and continues to work with other ownership groups and the City of Pleasanton. In the meantime, Shopoff is leasing the property with potential uses including residential, R&D/advanced manufacturing, office, and/or retail.

Disclosures

An investment in a Shopoff fund involves a high degree of risk, including the possible loss of your entire investment, and is illiquid with an uncertain liquidity date. This material does not constitute an offer to sell or a solicitation of an offer to buy any security. Securities offered through Shopoff Securities, Inc. Member FINRA/SIPC.

These properties are one of a number of properties that are managed by Shopoff Realty Investments, and owned by open and closed investment funds. For the listing of all Shopoff’s current holdings visit: https://www.shopoff.com/current-assets/