Town & Country Village Occupies Irreplaceable Infill Location

Town & Country Village, a 216,320-square-foot dual grocery-anchored community center in Sacramento, recently sold to Phillips Edison & Company Inc. The price was undisclosed.

The retail center was constructed originally in 1950 and most recently renovated between 2013 and 2014. Anchored by Trader Joe’s and Sprouts Farmers Market, the 91 percent leased Town & Country Village is also home to a diverse tenant mix including Bed Bath & Beyond, Ross Dress for Less, TJ Maxx and Five Below.

Town & Country Village is situated on 19 acres at 2601-2651 and 2717-2805 Marconi Ave. at the signalized intersection of Marconi and Fulton avenues, which provides regional access and visibility to more than 60,000 vehicles per day. This irreplaceable infill location serves a dense area in Sacramento, one of the top growth markets in the country. More than 342,200 residents earning an average annual household income of $85,055 live within a five-mile radius of the center and that population is anticipated to increase to nearly 359,900 by 2025.

The JLL retail capital markets team representing the buyer was led by Eric Kathrein, Geoff Tranchina, Bryan Ley and Gleb Lvovich.