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Comprised of more than 40,000 square feet of retail space on over 2 acres, the Shops at Todos Santos is currently occupied by 15 local, regional and national tenants including Peet’s Coffee, The Old Spaghetti Factory, CREAM, Capriotti’s, Bollinger Nail Salon, Naan ’n’ Curry, Half Price Books and Chevron Corporation.

San Francisco-based real estate firm Long Market Property Partners and retail development firm Paragon Commercial Group have purchased the Shops at Todos Santos, a full city block of retail in downtown Concord, for an undisclosed amount.

Newmark Cornish & Carey brokered the deal, which included 12 parcels of fully-leased retail space across the street from Todos Santos Plaza, Concord's cultural center.

Comprised of more than 40,000 square feet of retail space on over 2 acres, the Shops at Todos Santos is currently occupied by 15 local, regional and national tenants including Peet’s Coffee, The Old Spaghetti Factory, CREAM, Capriotti’s, Bollinger Nail Salon, Naan ’n’ Curry, Half Price Books and Chevron Corporation.

"It is a unique opportunity to get a full city block, and this is well-positioned for growth over the longterm," said Forrest Gherlone, a Newmark Cornish & Carey senior managing director. “Downtown Concord is experiencing a renaissance, with multiple large multi-family developments underway, and this block of truly irreplaceable real estate is located at the epicenter of this activity.”

As of now, Long Market and Paragon have no definitive plans for expanding or renovating the property, but the potential is there. The block is zoned for mixed-use, so the new owners could potentially build housing and office space as well as more retail.

"We were drawn to and inspired by the story of downtown Concord," said Justin Shapiro of Long Market. "There is a lot of flexibility with the site and our goal is to improve the project – maybe with some renovation and new tenants if vacancies arise – and drive foot traffic to the area."

The acquisition comes at a time of major growth for Concord. The city’s population grew 3 percent between 2010 and 2015 and is expected to grow 3.5 percent more by 2020. To accommodate the growing population, the city will soon get around 500 units of new housing between the Concord Village and Renaissance Square developments, both of which are expected to wrap up in the next year.

Concord's retail scene is also getting a makeover. A new 375,000-square-foot, $100 million shopping center is slated to take over the former Chevron office park, and Diamond Boulevard outside of the city’s downtown is seeing a boom in restaurant growth.

Just outside of Concord, the decommissioned Concord Naval Weapons Station is getting a $4 billion makeover in the form of 12,200 homes and 6.1 million square feet of commercial space, plus parks, utilities, schools and other facilities. Up to 30,000 people could eventually live there.