Lucescu Realty Negotiates Sales of Two Shopping Centers in Northern California for $24.6 Million

by Alex Tostado

Oroville and Auburn, Calif. — Lucescu Realty has arranged the sales of two shopping centers located in Northern California. Community Centers of America sold the properties for a total of $24.6 million. A Sacramento, California-based private development/investment company acquired Currier Square, a 131,017-square-foot, open-air community shopping center in Oroville, for $14.8 million. At the time of sale, the property was 88.5 percent leased to a variety of tenants, including Raley’s Grocery, Marshalls and Petco. The asset also includes four out-pad parcels positioned for redevelopment/buildout. A Los Angeles-based private investor purchased Crossroads Shopping Center, a 125,791-square-foot, open-air community shopping center in Auburn, for $9.8 million. Built in 1994, the property was 91.9 percent leased at the time of sale. Current tenants include Safeway, Ross Dress for Less, CACFit, AutoZone and Famous Footwear. Mark Lucescu, Samer Khalil and Greg Wendelkin of Lucescu Realty represented the seller and procured the buyers in the deal.

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