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February 15, 2019
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ValueRock Realty Partners Spends $28 Mil on Two NoCal Retail Properties


ValueRock Realty Partners has acquired two NoCal retail properties in deals totaling $28.5 mil. The acquisitions consisted of University Village, a 43.9k sf, grocery-anchored retail center at 1075-1095 Monroe St in Albany, and Sprouts Farmers Market, located at 90 SE Bidwell St in Folsom.

ValueRock acquired University Village for $19.25 mil and the Sprouts in Folsom for $9.25 mil. Both properties were purchased from Twin Cities-based national property development firm Oppidan.

University Village is anchored by Sprouts Farmers Market, along with Pet Food Express, Starbucks, Banfield Pet Hospital, and The Habit Burger, among others. The property is located at the western gateway to UC Berkeley. An added draw to this property is that all of the tenants are food and service- oriented, making the center highly-resistant to internet competition.

The Sprouts is located directly on Bidwell St, which is the main commercial corridor for the City of Folsom. The property was formerly an Orchard Supply Hardware and was recently converted to a Sprouts.

“We purchased both of these properties with 1031 proceeds. Specifically, we wanted to expand ValueRock’s portfolio in Northern California. Looking forward, we will continue to seek out grocery- anchored assets similar to these properties as they are excellent pieces of real estate in high income-insulated areas,” said Dennis Vaccaro, senior vice president, ValueRock Realty Partners.

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