Jones Lang LaSalle Incorporated: Rare Double-Grocery Retail Center in Sacramento

SAN FRANCISCO, November 29, 2021 – JLL Capital Markets today announced the closing of the sale of Town & Country Village, a 216,320 square foot dual-store community center in Sacramento, California.

JLL marketed the property on behalf of the salesperson, Donahue Schriber. Phillips Edison & Company, Inc. acquired the asset.

Anchored by Trader Joe’s and Sprouts Farmers Market, the 91 percent leased Town & Country Village is also home to a diverse range of national and regional tenants, including Bed Bath & Beyond, Ross Dress for Less, TJMaxx and Five Below. The mall was originally built in 1950 and recently renovated between 2013 and 2014.

Town & Country Village is located on 19 acres at 2601-2651 and 2717-2805 Marconi Ave. at the signposted intersection of Marconi and Fulton avenues, the main intersection of the commercial area, which provides regional access and visibility to over 60,000 vehicles per day. This irreplaceable infill location serves a dense and mature area in Sacramento, which is currently one of the country’s fastest growing markets. More than 342,200 residents with an average annual family income of $ 85,055 live within a five-mile radius of the center, and this population is expected to grow 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.

“Town and Country Village has provided a unique opportunity to own the dominant center of the market,” said Kathrein. “The property offers what retail investors are looking for today in a food hub anchored in a grocery store, and we’ve seen tremendous interest from a diverse pool of investors. “

JLL Capital Markets is a global full service provider of capital solutions for real estate investors and occupants. The company’s in-depth knowledge of the local market and global investors provides the best solutions for clients – whether it is investment sales and advice, debt advice, equity advice or recapitalization. The company has more than 3,000 capital markets specialists around the world with offices in nearly 50 countries.

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