Sentinel staff report–
A large, fully-leased shopping center located near Sunrise Boulevard and Greenback Lane has been listed for sale at $14.5 million.
According to an online listing for the commercial property, the Sunrise Hills Shopping Center boasts 71,514-square-feet of leasable space and is currently occupied by National Career Education, Chuck E. Cheese’s, and Montage Salon. Highlighting existing long-term corporate leases, the listing says the career center is on a 15-year lease — taking up 50,000 square feet — while Chuck E. Cheese’s has been an established presence at the location for the past 35 years.
The listing is targeted towards investors and marketed as a “below replacement cost opportunity” in a high-traffic location, which reportedly has nearly 40,000 cars passing by per day on Sunrise Boulevard. Although backset from Sunrise Boulevard, the center does feature monument and pole signage at the street — making for “excellent access from and line of sight visibility” on Sunrise.
The Sentinel reached out to the CBRE listing broker, James Tyrell, for comment on this story, but was referred to the company’s media division who did not return messages.
According to property records, the 5.91-acre center at 6251 Sunrise Blvd. was constructed in the 1980’s and is currently owned by the Patterson Family Trust, which previously sold off the adjacent properties where Texas Roadhouse and Buffalo Wild Wings operate.
The area near the shopping center has seen some recent changes, from roadway improvements on Sunrise Boulevard, to business openings and closures — and news of an expected major housing development. Perko’s Cafe opened nearby earlier this year at the old Denny’s restaurant location, and Rite Aid across the street closed its door last month — with a future tenant yet to be announced.
Most significantly, the Citrus Heights Planning Commission voted 5-1 last month to approve a new, 260-home development on Arcadia Drive, where the Sunrise Golf Course currently sits. If approved by the city council later this year, the new homes will be built on a 56-acre plot of land that will be within walking distance of the shopping center.
Related: New projects will likely bring hundreds of new homes, units to Citrus Heights
The housing development is supported by the area’s business improvement district, Sunrise MarketPlace, and is expected to increase foot traffic and shopping in the area.
“More rooftops is always good for retailers and restaurants,” said Kathilynn Carpenter, executive director for the Sunrise MarketPlace, which represents more than 400 businesses in the Sunrise-Greenback corridor. “Aside from that, it’s a good project for Citrus Heights and adds to the housing stock with quality housing.”
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