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NKF Completes Record Sale of Sacramento Retail Center
Elk Grove Commons, a 241,926-square-foot retail center in Elk Grove, CA, has been acquired by Rye, NY-based Acadia Realty Trust for $59.3 million from Donahue Schriber. Currently 100% occupied, the property at Elk Grove Boulevard and Bruceville Road in the Sacramento MSA is anchored by a high-performing Trader Joe’s, Home Goods, and Kohl’s.
NKF Capital Markets’ Nicholas Bicardo and Brandon Rogoff represented the seller. The brokers note it was the largest single asset retail transaction in the Sacramento area in the past three years.
“Elk Grove Commons is positioned on one of the most dynamic intersections in a submarket that has excellent fundamentals in regards to retail vacancy, residential and employment growth. Given the stability of the asset, coupled with where the capital markets are pricing today, this opportunity presented levered cash on cash returns that are hard to find on the West Coast for this quality of retail,” said Bicardo.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




