LUCESCU REALTY sells grocery anchored neighborhood center in Northern California
- LUCESCU REALTY exclusively represented the interest of the Seller and procured the Buyer.
- An Approximate 131,017 Square Foot, Grocery-Anchored, Community Shopping Center Anchored by a High Grossing Raley’s Grocery, Marshalls and Petco.
- Dominant Grocery Anchor; Raley’s has been operating their store within the subject property since 1989, and just recently extended their lease term by ten (10) years.
- 88.5% leased; 96.14% of the leased GLA is occupied by National and Regional tenants that account for 93.47% of the Total Annual Base and NNN Rent.
- Add Value Opportunity. There is an immediate opportunity to add value through leasing, management and development expertise. NOI is anticipated to increase 63.5% during the next 10 years.
- Highly Visible and Easily Accessible. Located at the intersection of Myers Street (5,897 VPD) and Oro Dam Boulevard (30,500 VPD).