The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 28, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



SACRAMENTO NEWS
Printer-friendly Version   Email an Associate
Sacramento Retail Center Trades in $32 Mil Deal

12/05/17

Laguna Village, a 98% occupied, 120.9k sf community retail center in the North Laguna area of Sacramento, was purchased by a local investment entity in a $32.5 mil ($269/sf) transaction. The property is anchored by a 12-screen Regal Cinemas movie theater and 24 Hour Fitness. Other tenants include Subway, Papa Murphy's, and My Gym.

Situated on just under 16 acres at 8755, 8785, 8759, 8765 and 8775 Center Pkwy, Laguna Village was built in several phases between 1996 and 2003. It is on a heavily trafficked intersection of Center Pkwy and Bruceville Rd, which sees more than 30,000 vehicles per day and is just one mile from Highway 99.

Mike Zylstra and Forrest Gherlone with Newmark Cornish & Carey (NCC) represented the seller, Hall Equities Group. Tom Fehr, Anthony Pappageorge and Zachary LeBeouf, also with NCC, repped the buyer, Laguna Village Investors LLC, in the deal.

"Laguna Village is an excellent asset with a majority of its tenancy comprised of destination and entertainment retail including restaurants, fitness, and a movie theatre which are more resilient to the on-line retail disruption. This tenant mix along with the center's quality and stabilized occupancy, made it an attractive investment," said Zylstra.

Zylstra added that Regal Cinemas is currently undergoing an approximately $3 mil upgrade to include stadium and lounge chair seating, with upgraded food and beverage.






Return to the Archive page
 


 


 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media