San Ramon retail center bought in deal that hints at rising values

SAN RAMON — Gateway Centre in San Ramon was bought in a deal that suggests investors still hunger for Bay Area retail hubs with merchants that offer everyday items.

At 21001 San Ramon Valley Blvd., it was purchased by an affiliate linked to Bay Area real estate executive Bill Poland for $47.8 million, documents filed on April 14 with the Contra Costa County Recorder’s Office show.

The shopping center totals 112,600 square feet and occupies 10.6 acres, according to a marketing brochure circulated by SRS Real Estate.

Over the last 12 months, investors have displayed hearty appetites for some East Bay and South Bay neighborhood shopping centers. Some of the retail centers drawing interest feature supermarkets or merchants that offer items at affordable prices.

Gateway Centre’s primary anchors are a Lucky supermarket and Dollar Tree discount store.

“The property offers a diverse tenant mix of strong-performing food and beverage operators, health and wellness tenants, and other essential daily-use tenants,” SRS stated in the marketing brochure.

The shopping center's purchase price was 8.6% higher than the $44 million assessed value for the property as reported for January 2025.

If its value is on the rise, that could result in higher property taxes for the site and an increased revenue stream from the parcel.

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This story was originally published April 22, 2026 at 10:21 AM.