Downtown Properties Sold

Downtown Properties Sold

Two downtown Orinda properties were recently sold and will not be developed.

On Nov. 16, 2017, the Rite Aid drug store and the Orinda post office (two adjacent parcels) were sold for $12.9 million.  The transaction was an all-cash deal.  Both properties are located on Orinda Way.

The properties were owned by the Regents of the University of California.  The new owner is McNellis Partners a privately held real estate company.  For over 30 years, McNellis Partners has redeveloped shopping centers and office buildings throughout the greater Bay Area and Sacramento.  McNellis Partners is located at 419 Waverly Street, Palo Alto, California 94301.

Orinda residents can expect Rite Aid and the post office to remain as they are.

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