The family that owns the Hillsdale Shopping Center has joined forces with global real estate investment firm Northwood Investors LLC to both manage the shopping center and to help re-imagine the 47-acre property’s future in partnership with the San Mateo community.
The Hillsdale Shopping Center first opened in 1954 and currently features over 120 specialty shops and restaurants. But in the wake of e-commerce changing consumer shopping habits, David D. Bohannon II, the CEO and president of The Bohannon Companies, launched a community engagement campaign in 2019 asking the San Mateo community to help re-envision the shopping center property so that it remains an economic engine and social hub for the community into the future. The campaign features the website, Re:Imagine Hillsdale.
In a statement Tuesday, the Bohannon family said Northwood Investors will “utilize its national profile and tenant relationships to improve the property in the changing retail landscape.” As part of the partnership, the Hillsdale Shopping Center management team has transitioned to Northwood Retail and will continue in their existing roles.
Brady Thurman of Northwood Investors expressed excitement over bringing “our mixed-use capabilities to Hillsdale” and in working with the Bohannon family and San Mateo community on future plans.
“The property continues to be a vibrant presence on the Peninsula, with attractive modern offerings and a loyal customer base,” Thurman said. “With a long-term strategy to meet the evolving needs of the community, customers, and tenants, we are confident that Hillsdale Shopping Center will continue its meaningful presence in the city for years to come.”
David Bohannon said his family is “committed to continuing our family’s relationship with this property and its service to the San Mateo community as we have done for the past 75 years.” He added the partnership with Northwood “will preserve that legacy and strengthen our ability to ensure Hillsdale can serve an even greater purpose for this community in the decades ahead.”
“Most importantly, it protects the process of implementing our evolution in collaboration with San Mateo. Northwood understands that Hillsdale is not only our family’s legacy – it’s San Mateo’s legacy as well,” Bohannon said.
Photo courtesy of Hillsdale Shopping Center