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10/29/25
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Cordova Village, a 60.6k sf, Safeway-anchored retail center in Rancho Cordova, was acquired by a foreign private investor for $20.25 mil ($334/sf). The asset was sold by McNellis Partners.
Cordova Village, located at 10605-10635 Folsom Blvd, features three single-tenant buildings on 7.16 acres with 705 feet of Folsom Blvd frontage. The property is 100% leased to national credit tenants including Safeway, Safeway Fuel Center and Bank of America. The asset benefits from its strategic location adjacent to a regionally-drawing discount grocery center and its position along Hwy-50, which carries nearly 140,500 vehicles per day.
The property showcases exceptional performance with Safeway demonstrating strong sales productivity and maintaining a healthy rent-to-sales ratio. All tenants recently executed five-year lease extensions and Safeway invested $3 mil in renovations, demonstrating strong commitment to the location. The center provides stable cash flow through triple-net lease structures with contractual rent increases and benefits from its protected position as the only major supermarket chain along the Highway 50 corridor running east-west through Rancho Cordova.
Eric Kathrein, Gleb Lvovich and Jeff Cicurel with JLL Capital Market’s Investment Sales and Advisory team represented the seller in the deal.
"Cordova Village represents an exceptional opportunity to acquire a premier retail asset with long-term credit tenancy in a growing Sacramento submarket," said Kathrein. "The combination of high-performing anchor tenancy, recent lease extensions and strategic location created strong investor interest in this offering."
The Sacramento metropolitan area continues to demonstrate strong fundamentals with a population of 2.5 million, making it the fifth most populated MSA in California. Rancho Cordova, located 15 miles east of Sacramento, has emerged as one of the region's largest employment centers with a workforce exceeding 65,000 and is experiencing steady growth driven by technology, healthcare and government services.
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