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8/30/18
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Woodland Crossroads, a grocery-anchored promotional shopping center in Woodland (Sacramento Valley), California, has sold to a private capital investment group in Southern California for $18.045 mil. Originally developed in 1985 with K-Mart as its anchor, Woodland Crossroads was substantially redeveloped in 2016 as a Grocery Outlet-anchored and regionally-drawing mid-sized box promotional center.
The seller was Woodland Crossroads TIC – Engstrom Properties, which was represented in the transaction by Cushman & Wakefield’s Dan Wald and Don LeBuhn (The Wald | LeBuhn Team). The buyers, affiliates of El Tigre Holdings, were represented by the Yorba Linda office of Keller Williams.
In addition to Grocery Outlet, Woodland Crossroads features key retailers Ross, Party City, Harbor Freight and Tractor Supply as well as a number of successful in-line tenants.
According to Wald, “Woodland Crossroads was ideally tenanted to thrive in the era of e-commerce. The property combines value retailing in Ross and Grocery Outlet with the style of hands-on product merchandising of Harbor Freight and Tractor Supply that cannot be replicated online.”
LeBuhn added, “The buyer had a substantial grocery and retail background and recognized the synergy of Woodland Crossroads’ tenant mix as well as the economic model of Grocery Outlet. As a result, they prioritized this offering over other shopping centers being marketed in Northern and Southern California.”
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