G-Tech Fellers Enterprises Acquires Gas Station In Elk Grove From Paul Petrovich For $8.6M

The property asset involved in the transaction is a retail space located at 8798 Calvine Road in Sacramento. The AmPm gas station/convenience store was sold for $8,600,000. The total square footage of the property is 79,212, resulting in a price per square foot of $109. The property features a lease with BP Products North America that is set to run through 2040 and includes provisions for rent escalations of 10% every five years.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $8,600,000
• Buyer: G-Tech Fellers Enterprises
• Seller: Paul Petrovich
• Square Footage: 79,212
• Price Per Square Foot: $109
• Market: Sacramento
• Brokers: Chris Sheldon & Andy Bogardus - Cushman & Wakefield

This sale was completed less than six months after the property was opened. The transaction involved significant features, including 16 fuel pumps and a car wash alongside the convenience store, contributing to its overall appeal to the buyer.