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Brokerage
Posted: August 16, 2016
Kunofsky and James of Marcus & Millichap arranges sale of 94,418 s/f Shopko: $13.62 million
Redding, CA Marcus & Millichap has arranged the sale of a 94,418 s/f Shopko. The $13.62 million sales price equates to $144 per s/f.
Glen Kunofsky, along with Mike James, a Marcus & Millichap first vice president investments, represented the seller. Kent Williams, senior vice president, is Marcus & Millichap’s broker of record in California.
“This transaction exemplifies the ongoing demand for big box, net-leased assets that offer sound real estate fundamentals and a strong tenant,” said Kunofsky. “This is the 25th Shopko location our team has closed with the seller and we have additional Shopko properties that are available for sale individually or as a portfolio.”
“This Shopko is well-positioned along a highly active commercial corridor, which sees over 28,000 vehicles per day and provides a consistent flow of customers,” said James.
The property is located at 55 Lake Blvd., less than one-half mile to I-5. Retailers along Lake Boulevard include Walgreens, McDonald’s, Starbucks and Subway. The Shopko is adjacent to Raley’s Supermarket.
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