Huge Chunk of Pacific Commons Sold to Chicago Firm

A large chunk of Pacific Commons — 865,000-square-feet — is being sold to a Chicago-based real estate firm, the Silicon Valley Business Journal reported Tuesday. 

The terms of the deal were not released.

According to the Business Journal, Catellus, the Oakland-based developer of Pacific Commons, will hold onto The Block, a 320,000-square-foot development home to Target, Century Theaters and a crop of new businesses such as Krispy Kreme and T.J. Maxx. The Block is still under construction.

Chicago firm Heitman will assume ownership of the majority of the retail center, claiming an 80-acre portion of Pacific Commons.

The retail property sale is the biggest in the Bay Area this year, the Business Journal reports.

Read the full Silicon Valley Business Journal article here.