Latest news briefs include the Walgreens store at the corner of Greenback Lane and Sunrise Boulevard being sold, a gas leak on Arcadia Drive causing evacuations on Wednesday, upcoming annual ‘Spooktacular’ festivities on Saturday, and news of a local documentary set to premiere at the community center.
Buyer pays $10M to purchase local Walgreens in Citrus Heights
The Walgreens store at the corner of Sunrise Boulevard and Greenback Lane has been sold for $10.41 million, according to County records and a report in the Sacramento Business Journal. Built in 2007, the 14,820 square-feet store is located on a two-acre parcel at 6199 Sunrise Blvd., with the sale price equating to just over $700 per square foot.
Although both the buyer and seller were unnamed in the Journal’s article, Sacramento County property records confirm the Walgreens store has been sold to a Newport Beach-based company called “Career Lofts Laguna Niguel, LLC.” The seller was listed as “Cordano Devco I, LLC,” which is connected to the large network of property and development companies run by the Sacramento-based Cordano family. A broker involved with the sale told The Journal the new buyer is typically a multifamily property investor, with such investors being attracted to less management commitment involved in retail leases versus multifamily. Earlier this year, the Montage multifamily apartment community in Citrus Heights sold for $74 million.
8th annual ‘Spooktacular’ event scheduled for Oct. 15
The annual Spooktacular festivities in the shopping centers at Antelope Road and Interstate 80 will take place again this Saturday from 10 a.m. to 4 p.m. Activities will include kid-friendly games, prizes, face painting, stage performances and more — along with health fair booths and over 50 vendors, according to an event description on the City’s website. The annual event is sponsored by the City of Citrus Heights and the Antelope Crossing Business Association, which was formed in 2009 to help support and promote the two commercial and retail shopping centers located off Antelope Road near I-80. (Link)
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Gas leak closes down street near Sunrise Mall
A gas leak on Arcadia Drive Wednesday afternoon shut down traffic on the street from Sunrise Boulevard to Greenback Lane, officials said. The leak prompted evacuations of several businesses, including Sprouts, CVS, Starbucks, and Alley Katz, according to a KCRA report. The leak was reported on the 7900 block of Arcadia Drive around 4:30 p.m. on Oct. 12, with Metro Fire reporting that PG&E crews had clamped the gas line and stopped the leak by about 6:45 p.m. No injuries were reported.
>>Also see upcoming event: Citrus Heights ‘Ladies to the Rescue’ movie to premiere at community center