North San Jose’s @First retail center has been sold to American Realty Advisors, a Glendale-based real estate investment and management company with $4.5 billion in assets, for an undisclosed price.

The 10-acre retail “village” at North First Street and Highway 237 has 84,000 square feet of restaurants, shops and banks. It was developed by Hunter Properties of Cupertino, which retained ownership up until the sale.

A 145,000-square-foot Target store was not part of the sale, since the retailer owns its building. The sale included all other @First retail tenants, including Fresh & Easy Neighborhood Market, CVS/pharmacy, Five Guys Burgers & Fries, Panera Bread, Panda Express, Pasta Pomodoro, Chipotle, Union Bank and Chase Bank.

Officials of Hunter Properties couldn’t be reached for comment Tuesday.

James Chung, partner in the San Jose office of Terranomics Retail Services, said asking monthly lease rates for retail shop space at the center is $3.75 per square foot.

“This is a very attractive center given the new construction, strong anchor tenants and great lineup of national tenants,” said Chung, who handles leasing at the center. “Plus, it’s in San Jose, one of the most dynamic retail markets in the region.”

The retail center is 93 percent leased, according to American Realty Advisors. The @First development also includes a 160-room Hotel Sierra and the 560,000-square foot headquarters of Brocade Communications Systems Inc., which specializes in data and storage networking products.

Stanley L. Iezman, CEO of American Realty Advisors, said @First presents his company with a golden opportunity in North San Jose’s Golden Triangle district.

“Consumer confidence is steadily returning to the marketplace and demand is significantly improving in high-income areas similar to San Jose, which was recently recognized as having the highest median household income of any city in the U.S.,” he said in a statement. “The acquisition of @First represents an excellent opportunity to capitalize on the long-term success of a well-located core retail property that is appropriately-sized, well-designed and likely to offer stable and quality cash flows during the anticipated holding period.”