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FREMONT, CA-The city of Fremont has purchased a small shopping center here in support of its effort to redevelop its downtown core. The city paid $5.2 million for the 22,000-square-foot Town Fair Shopping Center. The seller was Tribeca Cos., a San Francisco-based real estate private equity firm.

The 1.5-acre property is located at 39000 State St., between Capital and Beacon avenues. Tribeca reportedly acquired the property in 2007; its purchase price was not immediately available.

Fremont has an agreement with TMG Partners for a transit-oriented redevelopment of 100 acres of the city’s downtown core between the city’s BART station and the Fremont Hub Shopping Center. Daren Fields, Fremont’s economic development director did not return a Monday phone call from GlobeSt.com seeking comment.

Completed in 1972, Town Fair Shopping Center is 50% occupied. Tenants include China Chili Restaurant, Entourage Salon, B.J. Travel and Genius Kids.

The center is located adjacent to City Hall. The city reportedly plans to house some of its own operations in the building until the redevelopment moves forward.

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