(For more retail coverage, click GlobeSt.com/RETAIL.)

SACRAMENTO-Country Club Plaza, a 432,000-sf regional mall here, has changed hands for $57.75 million. LaeRoc Partners Inc. of Hermosa Beach acquired the property from Camwatt LLC (formerly Urban Retail Partners LLC).

Large tenants at the mall include Macys (NAP), Gottschalks, Bed Bath and Beyond, Off Broadway Shoes, Sport Chalet and Ross Dress for Less. The seller substantially redeveloped the mall in a process that began in 2003.

The repositioning included reconstruction on the interior common area corridor to curve from end to end, which allowed for a larger center court and increased frontage visibility. The repositioning also included the addition of two new large tenant spaces to Sports Chalet and Off Broadway Shoes, and new interior and exterior entrances for Bed Bath and Beyond.

Both sides of the transaction were represented by Irvine-based REZA Investment Group Inc. The brokers in the deal were company namesake and chief executive Reza Etedali and president Terry Bortnick. Etedali says the seller transformed the outdated regional mall into a modern, stabilized regional center.

The property generated 25 offers from investors. “The buyer won the deal by immediately committing to non-refundable money that provided the seller with certainty of close,” Bortnick says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.