NADG PURCHASES $23.5 MILLION SHOPPING CENTER NEAR SACRAMENTO

AUBURN, CALIF. — On behalf of a shopping center investment fund, North American Development Group (NADG) has acquired the 205,100-square-foot Rock Creek Plaza, a regional shopping center in the Sacramento suburb of Auburn, for $23.5 million. The firm’s first shopping center acquisition in California, the 100 percent-leased property is anchored by Kmart, Best Buy, Petco, Rite Aid and BevMo!. Sperry Van Ness’ Fouy Ly represented both NADG and the seller, a private investment trust, in the all-cash transaction.