SACRAMENTO—The University Village ShoppingCenter, located at the southeast intersection of Fair OaksBlvd. and Howe Avenue in Sacramento has changed hands. The sellerwas Howe and University LLC, a local investor thatacquired the property in 2002.

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Merlone Geier Partners, a San Francisco-basedinvestment company, purchased University Village Shopping Centerfor an undisclosed price, which is reportedly said to be around $20million.

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TRI Commercial/CORFAC International'sBryan Wirt was the only broker involved in thedeal. The 82,688-square-foot shopping center is approximately 97%occupied with only one, 1,700-square-foot space available forlease.

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“This is one of the most prominent grocery-anchored retailcenters on one of the busiest intersections in Sacramento… it isdefinitely a great piece of real estate,” Wirt, who specializes inretail real estate investment sales, tells GlobeSt.com.

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Wirt adds that it was a “value-add” investment for Merlone GeierPartners and that portions of the property could be redeveloped toadd more retail space.

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The center, located at 27 University Ave., is anchored bySafeway in approximately 27,000 square feet. Other tenants includeCVS, Citibank, Starbucks, AT&T and Bandera Restaurant.

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Merlone Geier Partners is a private real estate investmentcompany focused on the acquisition, development and redevelopmentof retail and retail-driven mixed-use properties on the West Coast.Primarily focused on community and neighborhood shopping centers,the firm and its predecessor, M&H Realty Partners, has beenactively investing in West Coast retail property since 1993.

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.