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6/06/24
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A new construction, 5.9k sf multi-tenant net-leased retail pad, Shops III at the new Anatolia Marketplace shopping center in Rancho Cordova, was purchased for $4.8 mil ($813/sf) by a local private 1031 exchange investor.
The Shops III at Anatolia Marketplace pad building sits on a 1.278-acre parcel at 4041 Sunrise Blvd, near the signalized intersection of Sunrise Blvd and Douglas Rd (44,000 cars per day) and the signalized intersection of Sunrise Blvd and Herodian Dr. Sunrise Blvd serves as the main thoroughfare connecting both U.S. Route 50 (El Dorado Freeway) and California State Route 16 (Jackson Road).
Shops III at Anatolia Marketplace contains four tenants: Popeyes Louisiana Kitchen (with a drive-thru), Cold Stone Creamery, Jamba and Capriotti's Sandwich Shop. All four tenants have new, long-term leases. Other tenants at Anatolia Marketplace include stand-alone buildings leased to Chipotle Mexican Grill Drive-Thru, McDonald’s, Dutch Bros and Chevron. Another multi-tenant pad building features Round Table Pizza and Anatolia Dental Group (Pacific Dental Services) and Kids Care Dental.
Bill Asher and Jeff Lefko with Hanley Investment Group Real Estate Advisors represented the seller Anatolia Marketplace LLC, based in Sacramento. The buyer was repped by Craig Lewis of Lewis Capital Advisors in Modesto.
Hanley Investment Group is also currently marketing for sale the single-tenant, absolute NNN Chipotle Mexican Grill drive-thru pad at Anatolia Marketplace. The property is currently under construction and is scheduled to open in September 2024. The investment features a new long-term lease with an asking price of $4.59 mil.
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