Shopping center

Village shopping center sold for $20.4 million | New

The Village shopping center on Town and Country Drive in Danville was sold for $20.4 million in a deal that closed on June 21. (Photo by Jeanita Lyman)

The Village shopping center in Danville changed hands last month, with the property previously owned by a San Ramon company now in the hands of Danville’s Blake Griggs Properties LLC after an eight-figure deal.

The transaction, which closed June 21, saw Blake Griggs purchase the property for $20.4 million from its former owner, Montair Associates LLC of San Ramon. The sale was negotiated with the firm Marcus and Millichap.

“Danville is one of the wealthiest suburbs in the United States with an average household income of more than $220,000 within a 5-mile radius,” said Vince Schwab, the brokerage firm’s executive managing director of investments. .

“Given the strong demographics of the submarket and continued tenant demand, this was a highly competitive sale process that led to several strong offers to acquire the Village Shopping Center,” Schwab added.

The Village Mall on Town and Country Drive near San Ramon Valley Blvd. houses offices for local facilities such as the Danville Area Chamber of Commerce and Discovery Advice Center, as well as fitness options , shopping and dining.