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18 AUGUST 2021
Grosvenor Americas (‘Grosvenor’), a privately owned international investor and developer, announces the sale of Hamilton Marketplace at 5800 Nave Drive in Novato, California. Grosvenor originally developed the open-air community shopping center in 2008, which was one of the first centers in North America to use solar energy to power its community space.
“As the original developer, Grosvenor maintained pride of ownership during its 13 year investment throughout the evolution of Northern Marin,” said Mark Purdy, Senior Vice President, Investment with Grosvenor Americas. “This sale provides us the opportunity to reallocate capital and expand our placemaking through reinvestment in the San Francisco Bay Area.”
Hamilton Marketplace is a meticulously maintained, grocery-anchored shopping center conveniently adjacent to the freeway over which approximately 173,300 vehicles pass daily. Anchored by Safeway, the 90,769 square-foot center is 100% occupied. With its exceptional quality and mix of offerings, Hamilton Marketplace is Novato’s preeminent community center. The retail mix is robust, fulfilling both essential and daily needs of the local resident. Other lifestyle tenants include Pet Food Express, Super Duper, Peet’s Coffee, Wells Fargo, Toast Restaurant, and Cycle Bar.
Nicholas Bicardo, Vice Chairman with Newmark Retail Capital Markets, represented Grosvenor in the transaction.
Grosvenor has operated a diversified real estate investment and development business in North America since 1952. The Company actively manages its $2.8B investment portfolio and is executing on a proprietary development pipeline that will deliver 4,200 homes across its active markets. Consistent with the firm’s farsighted approach to investment and development, Grosvenor Americas values long term partnerships: across their nine active investment partners, the average relationship is 20 years.
Vice President, Corporate Marketing & Communications, Grosvenor Property Americas
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