The Shops at Laguna Reserve, a 33,308-square-foot, fully leased shopping center shadow-anchored by a newly constructed Safeway grocery store in Elk Grove, a Sacramento suburb, has sold for $19,175,000 to Bershon Realty Company, LP, a private investment company based in Los Angeles. The sale included six pad buildings but did not include the Safeway.
Bershon Realty was represented by Bill Asher and Jeremy McChesney of Hanley Investment Group Real Estate Advisors, based in Corona del Mar. The seller, a private investor based in Roseville, was represented by Adam Rainey, Pat Ronan and Aman Bains of Gallelli Real Estate, also based in Roseville.
“Our client was seeking a high-quality retail asset with durable income and long-term upside, and this property checked every box,” said Asher. “We moved quickly to secure the opportunity, negotiating terms within two weeks of the property being listed for sale, and facilitated a streamlined due diligence in less than 30 days and a 45-day escrow to meet the buyer’s exchange timeline.”
Located at 10040–10064 Bruceville Rd., The Shops at Laguna Reserve spans four parcels totaling 4.16 acres.
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