Retail outlet center Gilroy Crossing, which boasts stores
Target, Kohl’s and a wealth of other shops, has been purchased by
San Diego-based real estate group Excel Trust, Inc., according to
the company’s website.
Retail outlet center Gilroy Crossing, which boasts stores Target, Kohl’s and a wealth of other shops, has been purchased by San Diego-based real estate group Excel Trust, Inc., according to the company’s website.
The acquisition of the 325,431-square foot retail hotspot just on Highway 152 just east of U.S. Highway 101 carried a price tag of more than $68 million, according to the Silicon Valley/San Jose Business Journal. The figure was far less than the roughly $80 million asking price announced by the center’s former owner, Lakha Properties-Gilroy, in 2008.
Excel Trust, Inc. owns and manages commercial real estate properties in 15 U.S. states, including a nearly 600,000-square-foot shopping center in Stockton.
Gilroy Crossing, which sits at the intersection of Camino Arroyo and Pacheo Pass Highway, opened in 2004 and includes stores Bed, Bath & Beyond, PetSmart, Sports Authority and more than a dozen restaurants.
