By Carole Hawkins–
A large commercial building in Citrus Heights occupied for a decade by Burlington is on sale for $9.75 million.
According to an online listing, Burlington Stores Inc. has occupied the 65,408-square-foot building since 2008, located at the corner of Greenback Lane and San Juan Avenue. It recently exercised a five-year lease renewal option, to commence in February.
Built in 1973, the Burlington building is situated in a shopping center co-anchored by Kohl’s and Ross, which creates “a synergy of value-driven shopping concepts,” the listing said. Sales at the Citrus Heights store have increased from approximately $7 million in 2012 to almost $10 million in 2017, according to the listing.
Burlington currently pays annual rent of $654,080 for the property, which equates to $10 per square foot. The property is being represented by Core Commercial Real Estate.
The two-story building was constructed in 1973 for Best Products, a now-defunct chain of catalog showroom retail stores. According to the listing, the store underwent a $1 million remodel in 2017 and the main and loading area roofs were replaced in 2010 and 2014 respectively.
The single-tenant Burlington building last sold in 2013 for about $6.69 million, according to Sacramento County property records. The assessed value is currently just above $7.2 million. The property, which encompasses 4.64 acres, is owned by Che Chen Liu/Shu Fen Liu Revocable Trust.
The building is one of several large commercial properties that have gone up for sale this year in Citrus Heights, including the Sunrise Hills Shopping Center, a six-acre center on Sunrise Boulevard that went on the market last month for $14.5 million. In January, the 35,000-square-feet 24 Hour Fitness building at the corner of Auburn Boulevard and Van Maren Lane was also listed for sale with a price tag just under $15 million.
Burlington is a nationally recognized off-price retailer with fiscal year 2017 revenue of $6.1 billion. Its stores offer an extensive selection of in-season, fashion-focused merchandise for men and women, along with coats, beauty and gift items, according to the company’s website. It operates 651 stores in 45 states and Puerto Rico.