Ukiah Crossroads Shopping Center Sold in 1031 Exchange
- Jul 08, 2016
Ukiah, Calif.—The Ukiah Crossroads shopping center was recently sold with the help of Hanley Investment Group Real Estate Advisors. The deal was handled by company President Ed Hanley and Senior Vice President Kevin Fryman on behalf of both parties. Seller Columbus Pacific Properties out of Santa Monica received $15.1 million in the 1031 exchange with a San Pedro, Calif., private investor.
Located at 1307-1399 N. State St. and 180-200 Ford Road in Ukiah, the shopping center offers 106,460 square feet of space. The grocery-anchored shopping center is operating at only 2 percent vacancy in an area that has a combined population of 113,000.
Last renovated in 2012, the Ukiah Crossroads is anchored by a 61,046-square-foot Raley’s supermarket and its tenant roster also includes names such as Dollar Tree, O’Reilly Auto Parts, Rue 21, Rent-A-Center, U.S. Cellular and Advance America. The property also includes a developable 1.39-acre freeway-visible pad. The property’s location offers proximity to the 101 Freeway along State Street and is one of the few shopping options located in the Mendocino and Lake Counties.
Image courtesy of Hanley Investment Group