Capital & Counties USA has paid a private individual $11.1m (£7.4m) for the Jackson Amadour Shopping Centre in Hayward, California, as part of its programme of expansion in the state.
Safeway, Longs Drugs and 24-Hour Nautilus anchor the 10,075m2 (108,450 sq ft) development, which has 12 other shops and a restaurant. A yield of around 10% is reflected in the purchase.
“The deal is part of our policy of refocusing on California and concentrating on properties with potential for enhanced performance,” explained managing director John Saggers.
To raise money, C&C USA sold the Crescent office building in Atlanta, Georgia.
