GATEWAY

Gateway Marin Retail Center San Francisco Bay-Area, Marin City, CA Tenants: Best Buy, Ross Dress for Less, CVS, Babies R Us, Starbucks, Dollar Tree & Outback Steakhouse. Site: 21.15 Acres GLA: 182,000 sq. ft.

Investment Strategy: Marin Gateway shopping center is located in a high-visibility, easily-accessible location on Highway 101 at the Sausalito interchange in southern Marin County. The shopping center encompasses 182,000 square feet in seven, single-story retail buildings that surround a large central parking area with approximately 830 spaces. Tallen & Keshen Holdings and its wholly owned brokerage company, Retail Enterprise Group Inc. (“REG”), in conjunction with Blake Hunt Ventures, redeveloped and renovated the project in late 2004 with a strategy to re-merchandise the center with an upgraded tenant mix during 2005. TKH was directly responsible for the value creation play at the project and worked closely with local community stakeholders and the Marin County Supervisors.  TKH was responsible for increasing revenue, visibility and the tenant mix and completed the first Babies R Us Superstore in Marin County, a new Starbucks, Dollar Tree, a drive through Panda Express located directly on the 101 and many other users, thereby enhancing consumer traffic, cash flow and project value. The site serves southern and central Marin County and has excellent demographics. With a dense high-income population and the surrounding traffic commute along the Highway 101, the Gateway Marin Retail Center is uniquely positioned to attract an expanded shopper base and provides enhanced retail and dining options to the Southern and Central Marin County community. During TKH’s involvement with the project from 2003-2008 the property was owned in a joint venture between the Bay Area Smart Growth Fund and the Marin City Community Land Corporation, a local community organization.  During TKH’s leadership, the project was awarded the San Francisco Business Time Retail Sale of the Year Award. The property is located immediately north of the Golden Gate Bridge at the gateway to Marin County, one of the nation’s wealthiest communities. Marin County serves primarily as a wealthy bedroom community for San Francisco and related Bay Area business centers. Representative new leases include: Babies R US Dollar Tree Panda Express Starbucks Massage Envy Butterfly Life Subway Soccer Pro Styles For Less Little Gym and others… Conclusion: The Gateway Marin Retail Center was singled out in the nine county Bay area by the San Francisco Business Times as the “Retail Deal of the Year Award” recipient, for the innovative acquisition structure conceptualized by TKH, Pacific Coast Capital Partners and Walter Ross, the advisor to the Marin City Municipality, in marrying the long term benefit of project ownership for the residents of Marin City.