Lucescu Realty Private Client Services sells grocery anchored center in Sacramento, CA
- LUCESCU REALTY exclusively represented the interest of the Seller, Community Centers of America, and procured the Buyer, a private investor, based in Los Angeles, CA, in a 1031 exchange.
- An Approximate 46,948 Square Foot portion of a Grocery Anchored, Community Shopping Center totaling approximately 125,791 Square Feet of existing GLA. Anchored by Safeway (NAP), Ross Dress for Less and Famous Footwear.
- Seasoned, Secure Income Stream. 74.6% of the GLA is leased to original tenants from when the property was built in 1994.
- Part of the Sale included the Assumption of an Existing Loan in the Amount of approximately $5,800,000.
- Favorable trade area. Within a 5-mile radius, the 2018 Estimated Average Household Income is $85,981.
- Highly Visible and Easily Accessible. Located near State Route 49 (34,700 VPD), at the signalized intersection of Bell Road (25,289 VPD) and Quartz Drive