East Bay supermarket property is bagged by Canadian tycoon’s company

CONCORD Contract relations between the United States and Canada may be fraught but a Canadian tycoon is showing an appetite for Bay Area real estate and has added an East Bay supermarket site to his holdings Canada-based Jim Pattison Developments U S Inc has bought a Lucky supermarket site in Concord paying million for the property according to documents filed on March with the Contra Costa County Recorder s Office The East Bay deal marked the second time this year that the Pattison Developments group bought a supermarket site in the Bay Area In January the Pattison firm paid million to buy a Lucky California supermarket site at Camden Avenue in southwest San Jose through an all-cash deal The modern East Bay deal involves a Lucky site at Clayton Road in Concord and was also an all-cash transaction the county documents show The just-bought Lucky supermarket building totals square feet according to the LoopNet commercial property database site Founded in the Pattison Developments firm is a unit of Jim Pattison Group an eponymous conglomerate that business entrepreneur Jim Pattison established in Pattison a multi-billionaire has been called the Warren Buffett of Canada partly due to his company s ownership of companies in a wide array of industries Save Mart Cos owns multiple grocery store brands including Lucky Save Mart and FoodMaxx As major retailers such as Macy s and Kohl s continue to announce store closures supermarkets and grocery stores that sell essential items appear to be in a relatively strong position in the view of property experts such as David Taxin partner with Meachan Oppenheimer a commercial real estate firm The price that the Pattison-led group paid for the Lucky store in Concord was higher than the million estimated value of the property in January as calculated by the Contra Costa County Assessor s Office