Ethan Conrad Properties Inc Acquires 156000 SF Retail Property From Burlington Stores For $5.885M

A retail property located at 5601 Florin Road in Sacramento has been sold for $5,885,000. The asset spans 156,000 square feet on a 12.3-acre site. The property is situated in the Sacramento market, with a price per square foot of $38.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $5,885,000
• Address: 5601 Florin Road
• Market: Sacramento
• Asset Size: 156,000 SF
• Price Per Square Foot: $38
• Buyer: Ethan Conrad - Ethan Conrad Properties Inc
• Seller: Michael O'Sullivan - Burlington Stores

Ethan Conrad, a real estate investor, plans to remodel the property after acquiring it. Burlington Stores will downsize its operations, moving to a smaller space of 34,652 square feet under a new 10-year lease. Conrad intends to introduce new leasing opportunities and install an EVgo charging station on the property.