Elk Grove Village (pad & inline shops)

CBRE is proud to offer the opportunity to acquire four parcels containing all the inline shops at Elk Grove Village, a high-visibility neighborhood shopping center in one of California’s fastest-growing communities. Located 15 minutes south of downtown Sacramento, Elk Grove is home to more than 177,000 people and is one of Sacramento County’s most affluent communities.
The asset is priced at $11,500,000 which equates to $371 per square foot and offers an initial capitalization rate of 7.75%. All leases are triple-net except Golden 1’s ATM machine.
The properties in this offering are fully leased to a synergistic mix of national and regional tenants offering food, services and products. Tenants include Arby’s, Macque’s BBQ, Plaza del Sol Restaurant, Papa Murphy’s Pizza, Body Bar Pilates, and Tailor John Dry Cleaners.
This offering consists of all the Center’s inline shops – the tenants that pay the highest rents per square foot. In the aggregate they total 30,979 square feet with reciprocal parking which shares a common set of CC&Rs controlling all 10 parcels. Shadow anchors include CVS Pharmacy, KFC, SpeeDee Oil Change, and a Shell service station. Overall, Elk Grove Village contains 106,698 square feet and is 100% leased. Owners of the parcels that are not a part of this offering reimburse their pro rata share of CAM charges. The CC&Rs bestow management authority on the owner of parcel 125-0390-010 which is included in this offering.
Elk Grove Village enjoys a superb retail location on the north side of Elk Grove Boulevard adjacent to Highway 99. Average Daily Traffic totals 109,500 vehicles on Highway 99 and 27,000 on Elk Grove Boulevard.