Stephen Patterson Of Patterson Properties Inc Purchases Retail Site In Citrus Heights For $2.2M

The retail asset located at 5525 Sunrise Boulevard in Citrus Heights was sold for $2,200,000. The property was previously occupied by Marie Callender’s and is now slated for redevelopment, with plans approved for a 5,000-square-foot quick-service restaurant featuring drive-thru lanes.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $2,200,000
• Buyer: Stephen Patterson - Patterson Properties Inc
• Seller: Asher Garden LLC
• Buyer's Representative: Torren Ragan, Dave White & John Brecher - JLL
• Seller's Representative: Caroline Lafler & Brenda Miller - TRI Commercial Real Estate Services

This transaction was facilitated by the collaboration between JLL representing the buyer and TRI Commercial representing the seller. The approval for the new development project marks a significant step towards revitalizing the long-vacant property.