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San Francisco Investor Acquires CVS-anchored Retail Center in Sacramento

Natomas Shopping Center Sells for $10.3 Million
August 7, 2018
CVS at Natomas Shopping Center in Sacramento, CA.

A private investor based in San Francisco purchased a 50,168-square-foot neighborhood shopping center in Sacramento, CA from a private investor based in Bakersfield, California. Natomas Shopping Center sold for $10.34 million, or about $206 per square foot.

The fully leased center at 2000-2050 Club Center Dr. is anchored by CVS, Ace Hardware and Dollar Tree. The Class B property, which has a developable pad as future upside, spans more than seven acres centrally located between Sacramento International Airport and Sacramento McClellan Airport.

“The tenant mix at Natomas Shopping Center was a great example of a diversified internet-resistant tenant mix that investors continue to seek as the impact of Amazon on brick and mortar retail continues to grow,” said Kevin Fryman, executive vice president of Hanley Investment Group, in a statement.

Fryman, along with Bill Asher of Hanley Investment Group, represented the seller, which originally purchased the property in October 2014, CoStar data shows.

Please refer to CoStar COMP #4433987 for additional information regarding this transaction.

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