By Mike Hazlip—
Several properties on the western end of SummerHill Plaza in Citrus Heights, better known as the Raley’s shopping center, were listed for sale earlier this year — with buyers already quick to take action.
The listing on the commercial real estate site LoopNet shows five properties on the west side of the plaza were listed on Jan. 7 for a total of just over $3 million, with properties also able to be individually purchased. The properties together make up about two acres of the plaza, according to the listing.
Marcus & Millichap agent Wyatt Figueroa told The Sentinel in a phone call Tuesday that the fully leased property at 7900-7904 Zenith Drive had already sold, which is home to a dentist’s office and an optometrist.
Tenants in the other buildings for sale include Extreme Hummus, the United States Post Office, and Summer Hills Veterinary Hospital. One building is currently vacant. Figueroa said existing tenants are planning to stay, calling the deal “clean and simple.”
Also on The Sentinel: New Dutch Bros opens in SummerHill plaza
Both the Extreme Hummus building and the Post Office building are in escrow. Figueroa said the vacant building and the veterinary hospital building were still available as of March 4, but “not for long.” He said an offer was received on the vacant building on Thursday, and said the other property has had “significant interest from 3 buyers.”
Figueroa did not comment on future tenants for the vacant property, but said he’s seen a lot of interest from buyers in the medical sector.
The 3,400-square-foot vacant building is listed at $504,000, while the partially leased 3,600-square-foot building with a veterinary hospital is listed at just over $576,000.
See property listing on LoopNet: click here
Commercial properties are becoming available as other businesses are reducing their footprint. He said employees working from home have caused a shift in the commercial real estate market as well as residential.
Demand for multi-family and office properties has slowed, according to the agent, while demand for single-family residential homes has spiked since the initial stages of the pandemic almost a year ago.
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