An aerial view demonstrates Sunrise Shopping mall and bordering purchasing spots along Greenback Lane near Dawn Boulevard in Citrus Heights on Thursday, December 26, 2013. Sacramento investor Ethan Conrad not long ago procured the shut Sears store on the website.
Sacramento Bee File
A vital element of Dawn Mall in Citrus Heights has a new owner, just as ideas are transferring alongside to redevelop the growing older shopping heart into housing, retail, eating places and an entertainment centre.
Sacramento investor and industrial actual estate agency Ethan Conrad Qualities finalized a purchase of the empty Sears making on Tuesday, having to pay just under $7 million for the 21-acre site, organization president and CEO Ethan Conrad stated. The structures on the web page overall around 280,000 sq. toes, including the three-tale section retailer and an automobile restore shop.
Conrad said he’s now been approached by likely tenants fascinated in the area, which include “a variety of significant box merchants and generate-by means of tenants.”
“The key retailer will definitely be substantially modified,” he explained. His target is to “make it a superior creating with superior tenants that would gain the local community.”
Conrad termed the property a “great retail area.” The previous Sears setting up stands on the southern facet of Dawn Mall, close to Dawn Boulevard.
Sunrise Shopping mall was a suburban Sacramento spot for a technology. It defined Citrus Heights as the local community commenced to boom in the 1970s, but the mall has faded in the latest several years and is now about 50{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} vacant, in accordance to metropolis officials.
Citrus Heights officials started working on the Dawn Tomorrow Specific System in 2019, aiming to redefine the mall. The program permitted by the City Council past yr would enable up to 2,200 models of housing, places to eat, breweries, work facilities and an out of doors leisure location on the 100-acre web page. It enables for up to 300,000 sq. feet of retail area, meaning a new retail tenant at the previous Sears web site could be permitted.
Very last thirty day period, a developer applied to designate component of the assets for a potential resort. The Sunrise approach makes it possible for for up to a few hotels.
Conrad also a short while ago procured two other shut Sears buildings: a retail store in the Northridge Mall in Salinas and the closed Sears in the Florin Towne Center in south Sacramento.
Ryan Lillis handles housing, real estate and development for The Sacramento Bee. He has been a journalist at The Bee since 2006 and beforehand covered crime, Metropolis Hall, wildfires and the Central Valley, and was the assistant handling editor. A native of upstate New York, he is a graduate of the UC Berkeley University of Journalism.