A major Vallejo shopping center is up for sale — at $38 million.
Vallejo Plaza – home to businesses including Seafood City, Planet Fitness and DD’s Discounts at Sonoma Boulevard and Redwood Street – was listed for sale as of Monday on LoopNet, a real estate website.
The shopping center could bring in as much as $2.1 million in profit to its owner next year, according to Helm Properties’ listing. However, 23% of the 19-acre center is currently vacant.
“Helm Properties is excited to present Vallejo Plaza, an exclusive opportunity suitable for owner-users or value-add investors,” the real estate company wrote.
Helm Properties did not respond to a request for comment by publication time. A spokesperson told SFGATE that the plaza’s current owner, San Jose-based Intelli LLC, chose to list the company after three years of ownership because a securities loan is due next year.
Like much of Vallejo and the Bay Area as a whole, Vallejo Plaza is no stranger to crime.
Vallejo City Council members in 2021 decried an uptick in possible hate crimes at Seafood City, a popular grocery store among the city’s Filipino community. Thieves in April of that year broke into a van that seven Filipino-American women were traveling in and stole their passports and valuables.
Also in 2021, the owner of DeMares Jewelers survived a heart attack after three masked men broke into the plaza’s decades-old jewelry store and stole $60,000 in gems on Halloween.
On the positive side, the Vallejo First 5 Center reopened in the shopping center last February after nearly four years of planning, fundraising and building that the pandemic stalled.
According to the listing, the plaza currently has security patrols and 24/7 video monitoring.