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JLL is pleased to offer for sale the fee simple interest in Sears Sacramento (the “Property” or “Site”), an 11-acre Site located at the renowned Arden Fair Mall in Sacramento, California. The Property holds a prime point, anchor position on the west end of the shopping center along a busy stretch of Arden Way and just off the I-80 freeway, with visibility from over 200,000 vehicles per day. Just 5 miles from downtown Sacramento, the Property benefits from a highly dense customer base of more than a million residents.
Arden Fair, a 1.1 million square foot “super-regional mall” serves as the destination shopping center for the Sacramento region drawing 9 million shoppers annually. Notable tenants include Macy’s, JCPenney, Apple, Gap and Lululemon.
The subject Site is currently improved with retail buildings totaling roughly 156,927 square feet, which include a former Sears department store and an adjacent, attached former Sears auto center. The Property, which falls in a Qualified Opportunity Zone, has strong future redevelopment potential as retail, mixed-use and more. The former Sears at Arden Fair offers investors the opportunity to acquire a well-positioned asset in a dense, infill market with the potential for immediate value-creation or future redevelopment.
- Located within the Arden Fair Mall, Sacramento’s dominant super regional shopping mall and fashion destination that attracts more than 9 million shoppers annually.
- Fee simple ownership in an 10+ acres Sacramento opportunity-zoned site with exceptional redevelopment and future value potential.
- Less than 5 miles and 10-minute drive from downtown Sacramento, the capitol of the fifth largest economy in the world - California.
- Point, anchor position within the mall boasting the highest level of visibility and access to both Arden Way & I-80 freeway, which collectively see more than 200,000 cars per day.
- Favorable zoning allows for a multitude of uses including residential development at densities of 24 - 250 dwelling units / acre and commercial development at FAR of 0.5 - 8.0.
- Extremely dense trade area serving more than 1.1 million residents within 10 miles.
- Adjacent to new residential development.