Calabasas-based Agora Realty and Management has purchased Antelope Marketplace, a 116,000-square-foot shopping center located just outside Sacramento, CA. The retail plaza is 98% occupied, anchored by a busy Bel-Air market and features other well-known tenants including Round Table Pizza, Wing Stop and Supercuts.
Ryan Thompson and Roman Benvenuti from Palmer Capital Inc. represented both the buyer and seller in the $33 million transaction. The property was built in 1992, remodeled in 2005, and is located in Antelope, CA at a high-traffic intersection on Walerga Road.
“Antelope Marketplace is the leading grocery-anchored center in an area with a higher-than-average household income and strong traffic counts,” said Agora’s CEO Cary Lefton in a news release. “We plan to create value by building an additional junior anchor building of approximately 25,000 square feet. Agora is in discussions with multiple retailers that have shown high levels of interest in joining the center.”
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.