Central Valley Shopping Center Fetches $6M
ByDonahue Schriber Realty Group has sold Colony Plaza, a 73,199-square-foot shopping center in Ripon, Calif., for $5.6 million. The buyer, NetCo Investments, financed its acquisition with a $3.1 million mortgage with a variable interest rate held by Five Star Bank, according to public records. An HFF team led by Gleb Lvovich, Bryan Ley and Eric Kathrein represented the seller in the deal.
Colony Plaza is situated on 10.4 acres of land at 1140, 1220, 1222 and 1290 W. Colony Road, 1452 Goodwin Drive and 450 Brady Lane. Located next to the Golden State Highway, the property is west of a large single-family residential district on the north side of Ripon. The shopping center is next to a bus stop operated by the San Joaquin Regional Transit District, enabling access to the city of Stockton, 20 miles to the north. The 92 percent-leased property is anchored by a Save Mart grocery store, with a range of other tenants including H&R Block, Supercuts, Country Skillets and Pro Nails. Two pads for future retail buildings are located on-site, which would add an estimated 8,000 square feet to the development…
