The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
October 1, 2023
 Search RENTV
 The REview
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Sacramento Area Retail Center Purchased for $11 Mil by SoCal Investors


A 61k sf, triple-net retail property in Carmichael, CA was acquired by Diamond Developers LLC, a SoCal-based group of private investors, in an $11 mil ($180/sf) transaction. The property, Carmichael Center, is located at 7223, 7225 and 7241 Fair Oaks Blvd, on a corner lot with high traffic and frontage within strong retail demographics, roughly 10 miles east of Sacramento.

The three-tenant, grocery-anchored shopping center also includes a Big Lots! discount tenant and a national bank branch. Big Lots has successfully operated at the center for more than 20 years and grocer Smart & Final recently signed a 15-year lease.

CBRE’s Alex Kozakov, Patrick Wade and team represented the seller -- 99 Palms, LLC – a private entity managed by San Diego-based Midtown National Group. The buying partnership was repped by an outside broker.

“With corporate guarantees from three national credit tenants that have proven resistance from the e-commerce impact, we received significant offer activity,” said Kozakov. “The buyer pool was primarily made up of Southern California private investors looking to achieve a higher yield in the Carmichael submarket versus the more aggressive cap rates in the coastal California areas.”

U.S. net-lease investment in 2019 is on pace to surpass last year’s record level, with an increasing number of investors attracted to this asset class by the prospect for strong risk-adjusted returns, according to the latest research from CBRE. Net-lease investment increased by 30.2% year-over-year to $20.9 bil in Q3 2019, the third-highest quarterly total on record.

Return to the Archive page




Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2023 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media