REZA Investment Group Inc. Sells Two Grocery Anchored Centers
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THE SOURCE FOR RETAILINVESTMENTS
REZA Investment Group Inc. Sells Two Grocery Anchored Centers
Puget Park Shopping Center
Everett, WA
Stockridge Plaza
Sacramento, CA
Puget Park Shopping Center
Everett, WA
OVERVIEW
The Puget Park Shopping Center is a grocery anchored
community shopping center that encompasses
approximately 88,961 square feet of retail space in
Everett, Washington. Anchored by a 41,896 square foot
Albertson's Supermarket (NAP), the inclusive portion
of the offering is comprised of 41,065 square feet of
retail space. Three additional pads are also located in
the center, none of which are a part of the offering. The
property is located on the southwest corner of 128th
Street S.W. and 4th Avenue W. in the city of Everett.
FINANCIAL HIGHLIGHTS
QUOTE
The Seller is a major institutional investor who was
looking to sell a non-conforming asset. We were able to
fi nd a local buyer that was not concerned with the uncertainty
associated with a property shadow anchored
by Albertsons.
Ramez Barsoum, Vice President
Ramez@REZAcompanies.com
(949) 271-1165
Stockridge Plaza
Sacramento, CA
OVERVIEW
Stockridge Plaza is a grocery-anchored shopping center
in Sacramento, California. The center is the dominant
grocery anchored shopping center serving this trade
area, and benefi ts from a highly visible corner location
on a primary intersection within a dense infill area. The
center is anchored by Foods Co (NAP), a division of
Kroger, with inline shop tenants including Dollar Tree,
Washington Mutual, Rent-A-Center, Little Caesar's
Pizza, Subway, H & R Block and more.
FINANCIAL HIGHLIGHTS
QUOTE
The property presented several challenges. The property is
anchored by Foods Co. (NAP) a division of Kroger. Kroger
announced it was closing all the Sacramento Ralphs stores
while we were marketing the property and there was uncertainty
involving the future of Foods Co. The buyer felt that the
high traffic, infi ll location and the scarcity of nearby development
sites made up for the uncertainty with the grocer.
Terry Bortnick, President
Terry@REZAcompanies.com
(949) 271-1174
Sale Price: $8,148,125
Cap Rate: 6.4%
Buyer: Dae Won, LLC(Edmond, WA)
Seller: RVIP Puget Park, LLC
(Chagrin Falls, OH)
Sale Price: $16,375,000
Cap Rate: 7.0%
Buyer: MHFT, RLZ and EKG Investors, LLC
(Torrance, CA)
Seller: CCI Stockridge Sac LLC
(Greenwood Village, CO)