{"id":1004182253,"date":"2017-06-28T04:18:02","date_gmt":"2017-06-28T12:18:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004182253"},"modified":"2022-12-08T19:52:10","modified_gmt":"2022-12-09T03:52:10","slug":"sacramento-area-shopping-center-trades","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sacramento-area-shopping-center-trades\/","title":{"rendered":"Sacramento-Area Shopping Center Trades"},"content":{"rendered":"

By Mihaela Coste<\/p>\n

\"Blue<\/a>

Blue Oaks Marketplace, Rocklin, Calif.<\/p><\/div>\n

Soma Capital Partners, in a joint venture with Toronto-based Timbercreek Asset Management, acquired Blue Oaks Marketplace, a 100,000-square-foot Class A shopping center located in Rocklin, Calif., for $19.2 million. The seller of the property is Diamond Creek Properties, a developer based in Sacramento.<\/p>\n

Located at 6815-6851 Lonetree Blvd. at the northeast corner of Blue Oaks and Lonetree boulevards, Blue Oaks Marketplace is in a prominent Sacramento retail node with surrounding median incomes of more than $120,000. The single-story asset was built in 2004 for an estimated $32 million to accommodate a large grocery business.<\/p>\n

At the time of the transaction, the property was 81 percent leased. The new owner<\/a> plans to develop and reposition two hard-corner pad sites and implement general capital improvements to attract a business in the food service space.<\/p>\n

Second CA Acquisition This Year<\/strong><\/h2>\n

The acquisition is the second purchase for SCP this year. In February, the company acquired a fee-simple ownership on Automation Parkway, a 250,000-square-foot office building located in San Jose and signed a lease for 82,000 square feet with Quantenna Communications.<\/p>\n

\u201cThis will be a very active year for us as we estimate opening Quantenna in October 2017 and start renovation work at Blue Oaks, which is very well positioned in Rocklin to attract notable pad and grocer tenants,<\/em>\u201d said David Smith, partner with SCP, in a prepared statement.<\/p>\n

\u201cWe have been very disciplined over the past two years evaluating a tremendous number of opportunities on the West Coast. It\u2019s a competitive landscape with value-add real estate funds looking to put capital out the door and we are very pleased with these two new acquisitions in the Bay Area, which both offer compelling risk-adjusted returns,<\/em>\u201d added SCP Partner Jordan Caspari.<\/p>\n

Image courtesy of Gallelli Real Estate<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Soma Capital Partners, the new owner of Blue Oaks Marketplace, plans general capital improvements to attract a business in the food service space. <\/p>\n","protected":false},"author":1192,"featured_media":1004182254,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,21749,36080,15],"tags":[36446,33677,36445],"class_list":["post-1004182253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-retail","category-sacramento","category-west","tag-diamond-creek-properties","tag-soma-capital-partners","tag-timbercreek-asset-management"],"acf":[],"yoast_head":"\nSacramento-Area Shopping Center Trades - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/sacramento-area-shopping-center-trades\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sacramento-Area Shopping Center Trades\" \/>\n<meta property=\"og:description\" content=\"Soma Capital Partners, the new owner of Blue Oaks Marketplace, plans general capital improvements to attract a business in the food service space.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/sacramento-area-shopping-center-trades\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-28T12:18:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:52:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Blue-Oaks-Marketplace-Rocklin-Calif..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"629\" \/>\n\t<meta property=\"og:image:height\" content=\"494\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mihaela Coste\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sacramento-area-shopping-center-trades\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/sacramento-area-shopping-center-trades\/\",\"name\":\"Sacramento-Area Shopping Center Trades - 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