Elk Grove, Calif. — Los Angeles-based private investment company Bershon Realty Co. LP has acquired The Shops at Laguna Reserve, a 33,308-square-foot shopping center located in Elk Grove, approximately 15 miles south of Sacramento. The purchase price was $19.2 million. The Shops at Laguna Reserve features six pad buildings, along with a Safeway that shadow anchors the property. Safeway was not included in the transaction. Other tenants at the center — which was fully leased at the time of sale — include Starbucks Coffee, Pacific Dental, Bank of America and Round Table Pizza, as well as a nail salon, dry cleaner, pet hospital, pet groomer and specialty food shops.
Bill Asher and Jeremy McChesney of Hanley Investment Group Real Estate Advisors represented the buyer. Adam Rainey, Pat Ronan and Aman Bains of Gallelli Real Estate represented the seller, a Roseville, California-based private investor.