ANTIOCH, CA—An undisclosed investor purchased the 90,000-sq.-ft. retail space at 2520 Sommersville Rd. in Antioch, Calif. Transwestern brokered theon behalf of both the seller, NKT Development LLC, and the buyer.
“Thisis an excellent high-exposure, high-identity location, with parking right at the entrance to the Sommersville Towne Center Mall,” said John Sechser, Transwestern SVP and director of Retail Operations, in a statement. Sechser brokered the deal along with Transwestern Retail Associate Colby Mikulich.
The property, formerly a Gottschalks store, is part of Sommersville Towne Center Mall, which includestenants such as Macy’s, Marshalls and Forever21.
“There is more than one million square feet of retail space in the immediate trade area and very few restrictions on the uses for this property. Additionally, being less than a quarter mile from Highway 4 and fronting Sommersville Road, the space is highly accessible,” Sechser said.
The buyer plans tothe property out to a number of tenants and is already in talks with two retailers for half the leasable space. An additional 45,000 sq. ft. are available, as an asking price of $13 per sq. ft., triple net.