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8/01/23
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A 6.4k sf, multi-tenant retail pad building shadow-anchored by a Save Mart grocery store in Modesto sold for $4.11 mil ($642/sf). Built in 2018, the three-tenant retail pad building is located on 0.61 acres at 3601 Pelandale Ave.
The tenants at the building are Pacific Dental Services (operating as Modesto Smiles Dentistry), Mountain Mike’s Pizza and West Coast Sourdough Deli (which will be opening soon).
Pacific Dental Services® (PDS), one of the country’s leading dental and medical support organizations, has over 900 supported offices in 25 states. PDS provides administrative and business operations support, highly skilled staff, and ongoing training and education to help healthcare providers succeed. PDS has been on the Inc. 5000 list of the fastest-growing private companies in America for the past 13 consecutive years (14 times on the list).
Founded in 1978, Mountain Mike’s Pizza has more than 250 restaurants across California, Oregon, Nevada, Utah, Arizona and Idaho. In addition to offering carryout, its own in-house delivery, and third-party delivery options, Mountain Mike’s provides a family-friendly dine-in environment making it easy for guests to enjoy the brand’s signature experience wherever they are.
West Coast Sourdough started because its founders humbly believe a sandwich is only as good as the bread it comes on. West Coast Sourdough uses the finest sourdough bread, hand-rolled by its artisan bakers in the Bay Area. The company hand-slices its premium meats daily and always uses local produce vendors for daily deliveries. West Coast Sourdough has 46 locations in operation and coming soon in California.
Jeff Lefko and Bill Asher with Hanley Investment Group Real Estate Advisors represented the seller, Covenant Real Estate Group in Henderson, NV. The all-cash, non-1031 exchange buyer was a private investor based in Elk Grove, CA.
Located in California’s Central Valley, the city of Modesto is the county seat and the largest city in Stanislaus County. Modesto’s population in 2023 is estimated to be 220,968, covering 44.80 square miles, and is ranked the 18th largest city in California and the 104th most populous city in the United States.
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