Rentv.com, 5/17/2010
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The Ultimate Marketplace Comes to Sacramento
In a notable retail lease from Sacramento, The Ultimate Marketplace-ShopSmart inked a deal for a 108.3k sf freestanding building at 7660 Stockton Blvd. The property was formerly occupied by a Sam’s Club.
ShopSmart will be a unique indoor mini-mall that will feature hundreds of professional retailers who sell thousands of predominantly new products at bargain prices. A family friendly mini-mall, ShopSmart operates similarly to a swap meet in that if offers entrepreneurs the opportunity to open, grow and promote their business for a fraction of the price of and with far less risk as alternative options. Blair Wheatley and James Teare, SCLS with Terranomics Retail Services represented ShopSmart, which plans to take occupancy in July. The property is owned by Sam’s PW, Inc.
North of there, in a Chico deal, Michael’s, the arts and crafts retailer, signed a long-term lease for 23k sf of inline space at Chico Crossroads shopping center. The 105k sf power center is located at the southeast corner of Hwy 99 & Dr. Martin Luther King Pkwy, within two miles of Chico State University. Its high profile tenants include Cost Plus, Office Depot, Petco, Bed Bath & Beyond and Ashley Furniture.
Blair Wheatley and James Teare, SCLS with Terranomics Retail Services repped the owner, Kimco Realty Corporation, in the deal. Michael’s will take occupancy in September.
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