The $50M+ transaction, led by strategic partner Steerpoint Capital, expands Mershops’ growing West Coast portfolio and includes targeted reinvestments to further elevate the property.
Mershops, a real estate platform founded by the Mersho family, announced today its acquisition of Weberstown Mall in Stockton, Calif Steerpoint Capital, a real estate investment and advisory firm specializing in repositioning large-scale retail assets, led the acquisition of the property on behalf of Mershops in a $50,750,000 transaction.
The acquisition marks the sixth enclosed mall in the Mershops portfolio and reinforces the platform’s commitment to acquiring and elevating dominant West Coast shopping destinations with long-term potential. Located in the heart of California’s Central Valley, Weberstown Mall encompasses 800,000 square feet of prime retail space between inline stores and anchor tenants. The property is well leased and home to national retailers including Barnes & Noble, Dillard’s, JCPenney, Old Navy and Five Below.
Mershops’ growing portfolio in California and Nevada includes Mershops North County (Escondido, Calif.), Galleria at Sunset (Henderson, Nev.), Antelope Valley Mall (Palmdale, Calif.), The Shops at Montebello (Montebello, Calif.), Northridge Mall (Salinas, Calif.) and two high-profile office campuses in Silicon Valley. The firm is making tailored reinvestments in each property that blend retail, hospitality and community relevance.
The acquisition was advised by longtime partner Steerpoint Capital, a commercial real estate investments and advisory firm that will continue to provide ongoing strategic support for asset management, leasing and redevelopment at Weberstown Mall. “We’re thrilled to add another great asset to the Mershops Portfolio through this acquisition,” said Bo Okoroji, Founder & CEO of Steerpoint Capital. “From structuring the transaction to advising on the future of the asset, Steerpoint will help unlock greater value and deliver higher-quality, higher-returning outcomes.”
The transaction adds another marquee asset to the fast-growing Mershops portfolio and underscores Steerpoint’s role as a trusted operating partner for institutional and family office clients targeting complex retail and mixed-use opportunities.
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