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12/01/21
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Phillips Edison & Company Inc acquired Town & Country Village, a 216.3k sf, dual grocery-anchored community center in Sacramento. A price was not given out.
Anchored by Trader Joe’s and Sprouts Farmers Market, the 91%-leased Town & Country Village is also home to a diverse lineup of national and regional tenants, including Bed Bath & Beyond, Ross Dress for Less, T.J.Maxx and Five Below. The retail center was constructed originally in 1950 and most recently renovated between 2013 and 2014.
Town & Country Village is situated on 19 acres at 2601-2651 and 2717-2805 Marconi Ave at the signalized intersection of Marconi and Fulton Avenues, the main intersection in the trade area, which provides regional access and visibility to more than 60,000 vehicles per day. This irreplaceable, infill location serves a dense, mature area in Sacramento, which is currently one of the top growth markets in the country. More than 342,200 residents earning an average annual household income of $85,055 live within a five-mile radius of the center, and that population is anticipated to increase to nearly 359,900 by 2025.
Eric Kathrein, Geoff Tranchina, Bryan Ley and Gleb Lvovich with JLL Retail Capital Markets represented the buyer.JLL also repped the seller, Donahue Schriber.
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