Sacramento Valley Retail Center Changes Hands for $18M
The shopping center opened its doors in 1985, anchored by K-Mart. Engstrom Properties renovated the asset and shifted toward a diversified mid-size tenant roster.
By Tudor Scolca
Woodland Crossroads
Woodland Crossroads TIC-Engstrom Properties has sold Woodland Crossroads, a 167,000-square-foot retail center in Woodland, Calif. A private capital investment group, affiliated with El Tigre Holdings, acquired the property for $18 million. Cushman & Wakefield represented the seller, while a Keller Williams Realty team acted on behalf of the buyer.
Woodland Crossroads is on the northwestern corner of Matmor Road and East Main Street, less than a mile away from Interstate 5 and the Vic Fazio Highway. The 1985-built property originally had K-Mart as its anchor tenant. Previous ownership implemented a considerable redevelopment program, transforming the asset into a Grocery Outlet-anchored, mid-sized box promotional center. Other national tenants include Ross, Party City, Harbor Freight and Tractor Supply.
“Woodland Crossroads was ideally tenanted to thrive in the era of e-commerce. The property combines value retailing in Ross and Grocery Outlet with the style of hands-on product merchandising of Harbor Freight and Tractor Supply that cannot be replicated online,” said Wald in a prepared statement.
Nearby big box retailers include Walmart, Costco, Target and Home Depot. Executive Managing Directors Dan Wald and Don LeBuhn of Cushman & Wakefield’s Retail Investment Advisors Group represented the seller in this transaction.
Image courtesy of Cushman & Wakefield
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