Lincoln Landing, the apartment and retail complex that rose on the site of Mervyn's former headquarters in downtown Hayward, has been sold for $205.3 million. Documents filed Oct. 28 with the Alameda County Recorder's Office show that an affiliate of Essex acquired the property at 22335 Foothill Blvd. in an all-cash deal, the Mercury News reports.
Confirmed in Essex's quarterly report
Essex Property Trust's third-quarter filing says that after the quarter ended, the company acquired Lincoln Landing in Hayward for a contract price of $205.3 million. It also acquired a separate 378-unit apartment community. The filing puts Lincoln Landing at 474 units. The Mercury News, citing a public filing, puts it at 476.
From department store HQ to apartments
Mervyn's collapsed in 2008. Nine years later, Hayward approved the mixed-use project, which officials promoted as key to downtown's future. Bridge Investment Group and Dollinger Properties developed it, and the first phase opened in 2022. The complex has two six-story residential buildings and about 80,500 square feet of ground-floor retail, with City Sports Club as the main commercial anchor.