Pleasant Hill Rd., Pleasant Hill

DESCRIPTION

A four-building neighborhood shopping center, Pleasant Hill Road is the epitome of in-fill. Surrounded by Lafayette, Pleasant Hill, and Martinez, this small pocket called “Virginia Hills” is fully developed, and therefore reduces the risk of new competing developments.  The property was purchased in 2009 at an attractive cap-rate.  After a repositioning and tenant retention effort, the asset has returned over 10% cash on cash per annum and was refinanced in 2017 to return all of the investors’ initial capital.