Historical Retail Sale Listing - Elverta Crossing

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Elverta Crossing

8065 Watt Ave, Sacramento, CA 95843

N/A

119,998 SF | Retail

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Elverta Crossing

Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
119,998 SF
Property Type:
Retail
Property Sub-type:
Neighborhood Center
Property Use Type:
Investment
Cap Rate:
9.40%
Tenancy:
Multiple
Year Built:
1991
Lot Size:
11.42 SF
Listing ID
16921651
Last Updated
over 1 year ago

Highlights

  • Value-Add/Redevelopment opportunity of an established Neighborhood Center
  • Approximately 50,000 SF of grocery anchor space
  • Potential to work with the ownership of the adjacent former Kmart to redevelop the center
  • Four separate parcels offer flexibility in ownership strategies
  • To Be Delivered Free and Clear of Debt

Description

Elverta Crossing is a 120,000 square foot grocery-anchored neighborhood center located at the intersection of Watt Avenue and Elverta Road in North Highlands (Sacramento). This destination center is anchored by FoodMaxx, which has been in holdover since 2006, providing immediate upside with the potential to reposition of approximately 50,000 square feet. Elverta Crossing includes four parcelized pads allowing flexibility in retention and exit strategies. The property is adjacent to a former Big K (proposed for re-positioning) to the north and a Wal-Mart to the south.

Elverta Crossings has excellent visibility from the heavily traveled, six-lane thoroughfare of Watt Avenue with an average traffic count of 60,000 vehicles per day at the intersection. The North Highlands submarket of Sacramento is an established area with a long history as home to civilian employees of the former McClellan AFB. With the base's privatization as McClellan Park and its ongoing re-tenanting with manufacturing, warehouse/distribution, call center and high tech/R&D users, the labor force that make up the area's population have seen an upward turn in the area's economy.

Map of 8065 Watt Ave, Sacramento, CA 95843 (Sacramento County)

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