ROCKLIN, CA-Lakha Investment Co. of Bellevue, WA has acquired the 83,000-sf Blue Oaks Marketplace for $30.3 million and plans to add up to 20,000-sf to the retail center, according to Grubb & Ellis. The property is at 6815-6851 Lonetree Blvd. and was approximately 70% leased at the time of closing.
The new ownership plans to add the new space by completing the development of three pad locations. Lakha Investments also plans to add value through the marketing of the remaining portion of the in-line space as well as an anchor space of about 11,000 sf.
Lakha Investments was represented by Patrick Ronan and Heath Charamuga of the Sacramento office of Grubb & Ellis. The new owners have retained Ken Noack Jr. and John Newton, also of the Grubb & Ellis Sacramento office, as the leasing team for the shopping center. Noack and Newton also represented the seller, Blue Oaks Marketplace, in the sale to Lakha.
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