65-year-old East Bay mall sold could be redeveloped

One of East Bay’s premier malls was recently sold and could be redeveloped.

Bayfair Center in San Leandro was purchased for $57 million by B3 and Gaw Capital Partners. City documents reviewed by the Mercury News show that the area is under consideration for potential transformation into a mixed-use campus including homes, offices and retail.

No date for the mall’s closure has been announced.

Newmark, which represented the seller, announced the transaction in a Press release in July. “Bayfair Center represents one of the few venues in the Bay Area that offers this kind of scale and connectivity, making it one of the best covered land gaming opportunities on the West Coast,” Nicholas said. Bicardo, vice president and director of Newmark. retail capital markets for Northern California. “Over the next five years, the buyer has the opportunity to unlock significant value by reconfiguring existing improvements and incorporating alternative uses into the site.”

Bed Bath & Beyond, which has closed stores across the country, announced the closure of its San Leandro store within the Bayfair Center, last month. A worker contacted in September at this store said she had been told it would close in December.

Neither B3 nor Gaw Capital Partners could be reached for comment at the time of publication. Bayfair Center opened in 1957, built on the former site of the Oakland Speedway racing stadium. The 42-acre site has included tenants like Macy’s, Old Navy, PetSmart, Cinemark and 24 Hour Fitness. Tanforan shopslocated near the San Bruno BART station, was purchased earlier this year with plans to build offices and at least 1,000 homes on the site.

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