Updated Jan 16, 2026
Jonas Sylvester Of Tourbineau Real Estate Partners Purchases Former Macy's Site For $8.2M
3500 El Camino Avenue
$8,200,000
Building Size
—
Asset Type
Retail
Closing
Jan 14, 2026
About this deal
AI
The asset involved in this transaction is a nine-acre former Macy’s site and parking lot located at 3500 El Camino Avenue in Arden-Arcade, Sacramento. The property was sold for $8.2 million and is categorized as retail space.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,200,000
- Address: 3500 El Camino Avenue
- Market: Sacramento
- Acres: 9
Jonas Sylvester represented the buyer, Tourbineau Real Estate Partners, a company based in Seattle. The acquired property is slated for a multiphase redevelopment, which includes transforming it into a self-storage facility and apartments, targeting the revitalization of an underutilized section of the Country Club Plaza.
On the Map
$8,200,000
Retail
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Players
Sacramento Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.93%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93