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December 16, 2018
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73k sf Retail Center in CA’s Central Valley Sells


Colony Plaza, a 73.2k sf, grocery-anchored shopping center in the California Central Valley community of Ripon was purchased by a private investor. It was sold by an institutional investor.

Anchored by Save Mart, Colony Plaza is 92% leased to national and regional tenants, including H&R Block, Country Skillets, Supercuts, Pro Nails, Golden Bear Physical Therapy and Esmeralda’s Authentic Mexican. The sale includes two pad sites for future development that would add approximately 8k sf of new retail space.

Colony Plaza is situated on 10.36 acres at 1140, 1220, 1222 and 1290 West Colony Road, 1452 Goodwin Dr and 450 Brady Lane in Ripon, which is in the heart of the San Joaquin Valley and approximately 80 miles east of downtown San Francisco and 12 miles from Modesto. The center is along Highway 99, which exposes it to more than 110,000 vehicles per day, and the nearest comparable grocer is more than five miles from Colony Plaza.

Gleb Lvovich, Bryan Ley and Eric Kathrein with HFF represented the seller in the deal. The price was not given out. The sale of Colony Plaza represents continued investor interest in grocery-anchored retail, even in secondary and tertiary markets, noted Lvovich.

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