Auction.com announces the completed sale of Waterman Grove Plaza, located in Elk Grove, Calif. (Sacramento CBD). The 44,090-square-foot neighborhood shopping center was listed by Voit and auctioned on July 24, 2013.
Waterman Grove Plaza is a rare High Quality “Trophy” Retail Asset with a value add component. Constructed in 2006, this single-story, multi-tenant, retail shopping center is currently 70 percent occupied with 53 percent of the tenancy being comprised of national and regional tenants.
Waterman Grove Plaza is located at the highly trafficked intersection of Waterman Road and Elk Grove Boulevard in the heart of the Elk Grove Retail submarket. Elk Grove was among the Sacramento region’s fastest growing population centers during the last economic growth cycle and is positioned to be a leader in the next growth cycle.
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The asset was among 11 commercial sales that closed from September 19 to 26, 2013, after being sold on the nation’s leading online real estate marketplace. Assets spanned six states and had a combined total sales value of more than $56 million.
To learn more about buying and selling commercial assets on Auction.com, please contact Joseph Cuomo, Senior Vice President and Director of Business Development at jcuomo@auction.com or 305.503.2637.
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About Auction.com:
Auction.com, LLC, is the nation’s leading online real estate marketplace and has sold more than $26 billion in assets since 2007. The company serves customers from the largest financial institutions and investors in real estate to the individual consumer and agent. Auction.com, LLC is headquartered in Irvine, California and has North American offices in Newport Beach, Silicon Valley, Miami, New York, Austin, and Plano, with European offices located in London, Frankfurt and Berlin. Visit Auction.com for more information