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California Northstate University College of Pharmacy Acquires Stonelake Landing in Elk Grove

Ethan Conrad Properties Sells Shopping Center for $12.7M
February 9, 2018
California Northstate University College of Pharmacy, a pharmacy college dedicated to educating, developing and training individuals to provide competent, patient-centered care, acquired the nearly 59,000-square-foot Stonelake Landing shopping center in Elk Grove, CA from Ethan Conrad Properties for $12.65 million, or approximately $214 per square foot.

Stonelake Landing at 2501-2623 Riparian Dr. was 60 percent occupied at the time of sale. Tenants include Allstate Insurance, Farmers Insurance, Flaming Grill Café, Razor Sharp Kutz and Synergy Total Fitness.

Ethan Conrad represented the seller in-house, which acquired the retail complex in June 2014 for approximately $5.04 million, according to CoStar data.

Bruce Wirt, senior vice president of Kidder Mathews, along with Steve Park, vice president of TRI Commercial, represented the buyer.

Please see CoStar COMPS #4109034 for more information.
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