Danville Investor Group Buys Former Nordstrom Site At Stoneridge Mall: Reports

PLEASANTON, CA — A group of local investors paid $10.7 million for an 8.4-acre parcel of land at the Stoneridge Shopping Center that includes the former Nordstrom’s, according to reports.

The buying group is headed by Jerry Hunt, founder and manager of the Danville-based 300 Venture Group, and Christopher George, founder and CEO of the San Ramon-based CMG Group. In 2022, 3VG purchased a nearby 10-acre parcel containing the former JCPenney for an undisclosed, all-cash sum.

According to a Pleasanton Weekly report, 3VG previously said on its website that it is exploring multiple options for the former Nordstrom site, including retail re-use and higher density mixed-use redevelopment.

“You could do more than one thing with these parcels. We acquired both parcels at advantageous pricing to give us an array of options,” 3VG founder Jerry Hunt told The East Bay Times. “These could include re-tenanting the two retail buildings and developing a higher-density project on the asphalt parking surface. We thought these parcels provided good opportunities.”

3VG founder Kameron Klotz told Pleasanton Weekly that the firm is working with the city of Pleasanton to make sure the redevelopment aligns with the city’s 2023 Stoneridge Mall Framework, which is tied to the city’s Housing Element cycle. The plan includes retail and hundreds of housing units.

The Stoneridge property has seen multiple sales in recent years. In April, Workday sold a 60,000-square-foot building for $5.5 million, and a five-story building at 5928 Stoneridge Mall Road to PG&E in a $21.8 million all-cash deal, according to The Real Deal.

SEE ALSO:

• JCPenney Property In Pleasanton Purchased For Undisclosed Sum
• Pleasanton Nordstrom Closes Permanently: Report

• Pleasanton Leaders To Discuss Stoneridge Mall Future
• Pleasanton JCPenney To Close