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2/11/21
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Nazareth Enterprises Inc paid $5.375 mil for EcoThrift Mall, a 38.6k sf ($139/sf) retail building on 3.6 acres, together with an adjoining, developable parcel of 0.77 acres, located at 7224 55th St in Sacramento. Led by Mounir Kardosh, Nazareth Enterprises is a privately-held, diversified investment firm based in San Mateo.
The property is positioned along one of Sacramento’s major traffic and retail corridors, with daily traffic counts exceeding 201,000 vehicles. The main tenant, EcoThrift, is California’s highest for-profit thrift store with six locations. Additionally, the subject property offers revenue from a billboard facing the Hwy. 99.
Chris Talia of The Mansour Group, Marcus & Millichap, represented the seller in the transaction. Financing was arranged by Ryan Park of Bank Leumi USA.
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