X Team International Partner John Cumbelich & Associates Announces Sale of 73,167-Square-Foot Shopping Center in California
By: Amanda Braniecki
WALNUT CREEK, Calif., April 8, 2014—X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S., Canada and Europe, announced that partner John Cumbelich & Associates, a San Francisco Bay Area-based commercial real estate firm, represented both buyer and seller in the recent sale of 1280 Willow Pass, a 73,167-square-foot shopping center in Concord, Calif. Firm Principal John Cumbelich made the announcement.
“1280 Willow Pass is a tremendous property, both due to its proximity to the adjacent Sun Valley regional mall, and by virtue of a new long-term anchor tenant lease,” said Cumbelich. “It was no surprise that multiple offers were secured for this shopping center, and we are confident that both the buyer and seller were pleased with the result.”
The shopping center on Willow Pass will be home to a new, 57,000-square-foot Hobby Lobby store—one of the chain’s first stores in Northern California. Cumbelich also represented the seller in securing the Hobby Lobby lease, and achieving 100 percent occupancy, prior to marketing the property for sale.
About X Team
X Team is an international alliance of retail real estate specialists with offices located in major cities throughout the U.S., Canada and Europe. X Team partners average more than 20 years of industry experience, with expertise in major markets worldwide, specializing in tenant, property and developer/landlord representation, workout services, property dispositions and retail investments. X Team services include transaction negotiation, portfolio analysis, lease valuations, acquisitions, and asset assessment and valuation. For more information, please visit www.xteam.net.
About John Cumbelich & Associates
John Cumbelich & Associates is a San Francisco Bay Area-based firm that provides commercial real estate services to Fortune 500 retailers and select owners and developers of retail commercial properties. The firm’s expertise is in developing store networks for retailers seeking to penetrate the Northern California marketplace and the representation of premier Power Center and Lifestyle developments. For more information, please visit www.cumbelich.com.