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5/14/08
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In a recent Sacramento retail transaction, Old Navy opened a new NoCal store after agreeing to a lease for 17.9k sf of space at the newly built Florin Towne Centre. The Towne Centre, which is a portion of the Florin Mall located on Florin Rd between Stockton and 65th, is owned by Stonehenge Property Group. Old Navy is slated for its opening in August 2008 and will join Wal-Mart Supercenter and Sears as part of the complex. The retailer was represented by Drew Greenspan and Staci Eisler Cole of Terranomics Retail Services.
And in Galt, a town of roughly 20,000 people situated about 20 miles south of Sacramento and 20 miles north of Stockton, there were two signings at the new Carillion Corners. The project is owned by Newmark Realty Capital and is located at the southwest corner of Twin Cities Rd and Carillion Blvd.
In one of the deals, British-based Tesco’s Fresh & Easy Neighborhood Market inked a long-term ground lease for 60k sf, on which the retailer plans to build a 14k sf store scheduled to open in November 2008. In the other transaction, Tractor Supply agreed to a lease that calls for construction of a 21k sf building plus a 22k sf outdoor area, set to open in January of 2009.
The 66k sf Carillion Corners center, situated a few blocks east from Hwy 99 and a Wal-Mart, is currently under construction and is scheduled for a fourth quarter 2008 opening. Fresh & Easy and Tractor Supply will serve as anchors for the center, along with Rite-Aid. Carmen Decker and Katie Walsh of Terranomics Retail Services teamed up to represent Newmark in both of the transactions.
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