store 2-miles east of the Raley's Center is a sign of continued confidence in the Elk Grove market. ... JGallelli@Gallel
FOR SALE
RALEY’S CENTER OF ELK GROVE 4720-5030 Elk Grove Boulevard | Elk Grove, California
RALEY’S GROCER ANCHORED NEIGHBORHOOD CENTER 93% OCCUPANCY | AFFLUENT LOCATION • • • GARY GALLELLI Partner Managing Director L #01099383
[email protected]
• JASON GALLELLI Executive Vice President Retail Group L #01143594
[email protected]
MICKEY TURPEN Senior Vice President Investment Group L #01340787
[email protected]
• • •
Offered by Gallelli Real Estate on an unpriced basis 2006 Construction Estimated in-place NOI $2,345,158 Estimated Year 2 Stabilized NOI $2,590,728 Total building area ±103,853 SF Total shop space ±39,148 SF 89.04% of occupied total building area is national, regional or franchisee
Investment Highlights Rental Rates Poised to Rise Significantly
Exclusive Corner Location
Outstanding Grocery Anchor Store Sales
Of the four other traditional grocery-anchored centers
The Property, located at the Southeast quadrant of
Raley’s reports sales in excess of $35 million annually,
within our trade area, there is a combined ±2,650 square
the intersection, is the sole commercial property at
ranking this store as the second largest grossing grocer
feet of vacancy at two separate properties. The lack of
the intersection of Franklin Boulevard and Elk Grove
in the trade area.
available, quality space in traditional grocery-anchored
Boulevard which has impressive traffic counts of nearly
centers coupled with minimal new construction is putting
±53,000 cars per day.
upward pressure on rental rates.
Average household incomes within a 1, 3, and 5 mile • Northwest quadrant has existing
Income Growth Through Lease-Up The Center currently has ±7,230 square feet available for lease; the next owner has the opportunity to capitalize on this opportunity to increase the center’s cash flow.
Affluent Demographics
single-family homes
radius of the property are $103,324, $92,723, and $82,326.
• Northeast quadrant is Valley High Country Club • Southwest quadrant is protected wildlife habitat that cannot be built on
Tremendous Location The Raley’s Center of Elk Grove is currently the only
Anchored by the Sacramento Region’s Most
grocery-anchored shopping center located south of Elk
Dominant Grocery Chain, Raley’s Supermarket
Grove Boulevard and west of Big Horn Boulevard, an
According to the most recent survey conducted by
area with over 11,800 existing homes.
Scarborough Research, Raley’s/Bel Air has a 48% market share. Raley’s/Bel Air is also the reigning winner of Sacramento Magazine’s Best Grocery Store category as voted on by residents of Sacramento.
Radius TOTAL POPULATION AVERAGE HOUSEHOLD INCOME Demographics 2015, Pitney Bowes
1-MILE
3-MILES
5-MILES
18,522
107,034
206,723
$103,324
$92,723
$82,326
The trade area surrounding the Raley’s Center is a
Major Retailers Present
seasoned location with excellent demographics that also
Many national retailers are represented in the Elk
provides for future growth.
Grove market including Walmart, Target, Home Depot,
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Trade Area Highlights • The City of Elk Grove’s population has grown over
SteinMart, Sprouts, Nugget Market, Burlington Coat
180% since 2000, ranking 2nd in percentage growth
Factory, TJ Maxx, Bed Bath & Beyond, DSW Shoes,
and 1st in marginal growth for the 4-county Sacramento
Michaels, Total Wine & More, among others.
LAGUNA BLVD
FRANK
Hobby Lobby, Old Navy, Best Buy, Ross Dress for Less,
MSA. Limited Neighborhood Retail Development Potential • There are nearly ±108,000 more people living in Elk
There are only two development sites between the
Grove now than in the year 2000 (currently 167,965); no
Raley’s Center and Interstate 5 large enough to
other area in the Sacramento MSA comes close to
accommodate a grocery-anchored center. Both of
this rate of expansion.
these sites are sandwiched between Interstate 5 and the existing Raley’s Center, with no new residential
Significant Existing Residential Homes
development possible to the south due to the Wildlife
There are over ±33,000 households within a three-mile
Nature Preserve. For these reasons, these sites would not
radius of the property, more than twice the number
be viable for a grocery tenant.
of households typically required to support the five grocery stores within this area.
Big Box Retail to the East Development along Elk Grove Boulevard east of the
Continued Residential Growth – Elk Grove continues
Center is primarily directed at large retail users including
to be one of the fastest growing residential areas in the
Costco who recently received city approval for a new
Sacramento MSA.
store 2-miles east of the Raley’s Center is a sign of continued confidence in the Elk Grove market.
Dominant Market Position – The three highest-grossing grocery stores including Raley’s, Safeway and Bel Air, are
Retail Development to the South
all located along Franklin Boulevard.
Long-proposed development of the land along Highway 99 and Grant Line Road appears to be
Major Grocers Present – The major grocery stores in
gaining momentum: The Outlet Collection at Elk Grove,
the Sacramento MSA are already represented within the
a ±775,000-square-foot outlet mall and The Wilton
Elk Grove market, reducing the risk of new competition
Rancheria Casino Resort, a $400 to $500 million
cannibalizing existing store’s sales.
development.
ELK GROVE BLVD. STONE LAKES NATIONAL WILDLIFE REFUGE
Zela Elk Grove Nails Cleaners
Lake Point Dental
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Choice Framing Tandoori Flame
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FR ±53,000 ADT
www.GallelliRE.com
GARY GALLELLI Partner Managing Director 916 784 2700 L #01099383
[email protected]
JASON GALLELLI Executive Vice President Retail Group 916 784 2700 L #01143594
[email protected]
MICKEY TURPEN Senior Vice President Investment Group 916 784 2700 L #01340787
[email protected]