Elk Grove, California – Our data today is Net Lease Investments in California. We wanted to report that Inland Real Estate Acquisitions, Inc. has purchased a Net Lease Investment in Elk Grove, a suburb of Sacramento. This net lease property is a freestanding Kohl’s-Occupied Retail Building. This Net Lease Property was purchased for $21.5 Million. The Investment Property was acquired on behalf of Inland Diversified Real Estate Trust, Inc.
This Net Lease Property is freestanding commercial proeprty that is 89,887 square-feet. The Net Lease Property is occupied by Kohl’s Department Stores, Inc., a subsidiary of Kohl’s Corporation (“Kohl’s”). Kohl’s is on a net lease that extends through 2028, with multiple renewal options.
Kohl’s is a strong and growing retailer, and a very desirable tenant that has been expanding rapidly in California. Kohl’s have opened more than 30 stores and a distribution center in California in the last year. Elk Grove, is an affluent community just south of Sacramento. This offers to be a very desirable location for Kohl’s as well as other triple net lease properties.
The retail building serves as an anchor to Calvine Pointe, a proposed 240,000-square-foot retail project which is currently in development. The project’s developer has announced plans for the construction of multiple retail parcels, including a Fresh & Easy Neighborhood Market.
Inland Real Estate Acquisitions, Inc. is the purchasing arm for various entities that are a part of The Inland Real Estate Group of Companies, Inc. Inland has been ranked collectively the as second fastest-growing acquirer of retail net lease property in the United States and one of the largest shopping center owners in North America. Net Lease Proeprties are excellent choices for 1031 Exchange Properties.
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