ROIC Pays $17M For Foster City Shopping Center and Office
By Carrie Rossenfeld
Retail Opportunity Investments Corp., a REIT and owner/manager of necessity-based retail properties, has purchased Marlin Cove Shopping Center from a private investor for $17.38 million. Comprising 74,596 square feet that includes a three-story office building, the center is located at 1070-1098 Foster City Blvd.
The shopping center is located in a residential area adjacent to Foster City’s newest luxury rental community, Marlin Cove. The property is one contiguous center including 53,379 square feet of retail and 21,217 square feet of office space, and the shopping center is currently 82% occupied by well-known tenants including 99 Ranch Market, Starbucks, Round Table Pizza, UPS Store and office tenant PrimePay. One of the most active shopping-center investors in the Bay Area, ROIC plans to lease the remaining available space quickly.
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The Peninsula Industrial Pros 