{"id":1004694169,"date":"2023-12-14T04:30:15","date_gmt":"2023-12-14T12:30:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004694169"},"modified":"2023-12-14T04:30:16","modified_gmt":"2023-12-14T12:30:16","slug":"phillips-edison-pays-44m-for-sacramento-area-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/","title":{"rendered":"Phillips Edison Pays $44M for Sacramento-Area Retail Center"},"content":{"rendered":"
\"Quail<\/a>

Quail Pointe was 94 percent leased at the time of sale. Image courtesy of JLL<\/em><\/p><\/div>\n

Phillips Edison & Co. <\/strong>has purchased Quail Pointe, a 98,314-square-foot grocery-anchored retail center in the Sacramento suburb of Fair Oaks, Calif., for $44.3 million. JLL <\/strong>represented the seller, Madison\/Sunrise Associates<\/strong>, a subsidiary of The Voit Co<\/strong>. This is the first time the property has changed hands in 36 years.<\/p>\n

Completed in 1987, the property was 94 percent leased at the time of sale. Trader Joe\u2019s, the anchor tenant, has been occupying the space for more than 30 years and has recently signed an early 5-year extension bringing its remaining lease term to 9 years. The tenant roster includes various retailers such as Calico, Willo and Starbucks, according to CommercialEdge data. The average tenancy length at the property is 20 years.<\/p>\n

Located at 5329 Sunrise Blvd., Quail Pointe is about 1 mile north of central Fair Oaks and some 19 miles from Sacramento, Calif. The center serves a population of more than 131,000 people within a 3-mile radius with an average household income of $112,015, according to JLL.<\/p>\n

Sacramento retail market holds steady<\/h2>\n

JLL Managing Director Eric Kathrein and Director Warren McClean, along with Analyst Andrew Spangenberg, led the Retail Capital Markets team that arranged the deal. The same brokers were recently involved in the $29 million sale<\/a> of another retail center in California.<\/p>\n

In 2023\u2019s third quarter the total vacancy rate for retail assets in the Sacramento market clocked in at 5.5 percent, according to a recent CBRE report<\/a>. Meanwhile, the average asking rate on a monthly triple-net basis registered a slight decrease from the second quarter\u2019s $1.66 per square foot to $1.64.<\/p>\n","protected":false},"excerpt":{"rendered":"

JLL represented the seller in the transaction.<\/p>\n","protected":false},"author":3120,"featured_media":1004694210,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21749,36080,15],"tags":[32796,33063,35357],"class_list":["post-1004694169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-retail","category-sacramento","category-west","tag-jll","tag-phillips-edison-company","tag-voit-real-estate"],"acf":[],"yoast_head":"\nPhillips Edison Pays $44M for Sacramento-Area Retail Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Phillips Edison & Co. has purchased Quail Pointe, a grocery-anchored retail center in Fair Oaks, Calif., from Madison\/Sunrise Associates.\" \/>\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\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phillips Edison Pays $44M for Sacramento-Area Retail Center\" \/>\n<meta property=\"og:description\" content=\"Phillips Edison & Co. has purchased Quail Pointe, a grocery-anchored retail center in Fair Oaks, Calif., from Madison\/Sunrise Associates.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/\" \/>\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=\"2023-12-14T12:30:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-14T12:30:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Quail-Pointe.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Radu Corfus\" \/>\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\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/\",\"name\":\"Phillips Edison Pays $44M for Sacramento-Area Retail Center - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Quail-Pointe.png\",\"datePublished\":\"2023-12-14T12:30:15+00:00\",\"dateModified\":\"2023-12-14T12:30:16+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a04f9fc8d7ed936167c8786eb77e39c2\"},\"description\":\"Phillips Edison & Co. has purchased Quail Pointe, a grocery-anchored retail center in Fair Oaks, Calif., from Madison\/Sunrise Associates.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Quail-Pointe.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Quail-Pointe.png\",\"width\":800,\"height\":600,\"caption\":\"Quail Pointe\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Phillips Edison Pays $44M for Sacramento-Area Retail Center\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a04f9fc8d7ed936167c8786eb77e39c2\",\"name\":\"Radu Corfus\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/RaduCorfus_AuthorPhoto.png?w=72\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/RaduCorfus_AuthorPhoto.png?w=72\",\"caption\":\"Radu Corfus\"},\"description\":\"Radu Corfus is an Associate Editor at Multi-Housing News and Commercial Property Executive with a background in creative writing and copywriting. He joined the Yardi team in 2022. Before writing for CPE and MHN, Radu collaborated on story writing for animations while finishing his studies in Japanese and English language and literature.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/radu-corfus\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Phillips Edison Pays $44M for Sacramento-Area Retail Center - Commercial Property Executive","description":"Phillips Edison & Co. has purchased Quail Pointe, a grocery-anchored retail center in Fair Oaks, Calif., from Madison\/Sunrise Associates.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/","og_locale":"en_US","og_type":"article","og_title":"Phillips Edison Pays $44M for Sacramento-Area Retail Center","og_description":"Phillips Edison & Co. has purchased Quail Pointe, a grocery-anchored retail center in Fair Oaks, Calif., from Madison\/Sunrise Associates.","og_url":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2023-12-14T12:30:15+00:00","article_modified_time":"2023-12-14T12:30:16+00:00","og_image":[{"width":800,"height":600,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Quail-Pointe.png","type":"image\/png"}],"author":"Radu Corfus","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/","url":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/","name":"Phillips Edison Pays $44M for Sacramento-Area Retail Center - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Quail-Pointe.png","datePublished":"2023-12-14T12:30:15+00:00","dateModified":"2023-12-14T12:30:16+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a04f9fc8d7ed936167c8786eb77e39c2"},"description":"Phillips Edison & Co. has purchased Quail Pointe, a grocery-anchored retail center in Fair Oaks, Calif., from Madison\/Sunrise Associates.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Quail-Pointe.png","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Quail-Pointe.png","width":800,"height":600,"caption":"Quail Pointe"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/phillips-edison-pays-44m-for-sacramento-area-retail-center\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Phillips Edison Pays $44M for Sacramento-Area Retail Center"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a04f9fc8d7ed936167c8786eb77e39c2","name":"Radu Corfus","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/RaduCorfus_AuthorPhoto.png?w=72","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/RaduCorfus_AuthorPhoto.png?w=72","caption":"Radu Corfus"},"description":"Radu Corfus is an Associate Editor at Multi-Housing News and Commercial Property Executive with a background in creative writing and copywriting. He joined the Yardi team in 2022. Before writing for CPE and MHN, Radu collaborated on story writing for animations while finishing his studies in Japanese and English language and literature.","url":"https:\/\/www.commercialsearch.com\/news\/author\/radu-corfus\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Quail-Pointe.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004694169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/3120"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004694169"}],"version-history":[{"count":4,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004694169\/revisions"}],"predecessor-version":[{"id":1004694218,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004694169\/revisions\/1004694218"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004694210"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004694169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004694169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004694169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}