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6/06/22
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Agora Realty and Management purchased Antelope Marketplace, a 115.5k sf retail center located at 7901 Walerga Road in Antelope, a suburb of Sacramento, for $33 mil ($285/sf). The property was sold by Philips Edison & Company.
The high-performing center is 98% occupied, anchored by dominant local supermarket Bel-Air market. Additional tenants include 24 Hour Fitness, Banfield Pet Hospital, Round Table Pizza, Leslie's Pool Supplies, Wing Stop, Jamba Juice, Supercuts and State Farm Insurance.
Built in 1992 and remodeled in 2005, the center benefits from visibility at a high-traffic intersection on the corner of Walgera Rd and Elverta Rd. Antelope boasts a population of 48,398.
Ryan Thompson and Roman Benvenuti from Palmer Capital Inc represented both the seller and buyer in the transaction.
“Antelope Marketplace is the leading grocery-anchored center in an area with higher-than- average household income and strong traffic counts. We plan to create value by building an additional junior anchor building of approximately 25,000 square feet. Agora is already in discussions with multiple retailers that have shown high levels of interest in joining the center,” said Cary Lefton, CEO, Agora Realty & Management.
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