Pine Tree Acquires Delta Shores Shopping Center in Sacramento for $122.5M
SACRAMENTO, CALIF. — Northbrook, Ill.-based Pine Tree, in partnership with a U.S. pension fund, has purchased Delta Shores, a shopping center in Sacramento, for $122.5 million.
Completed in 2017, Delta Shores features 414,658 square feet of retail space. Current tenants include Dick’s Sporting Goods, Hobby Lobby, Ross Dress for Less, PetSmart and Ulta Beauty. The shopping center is part of the 800-acre Delta Shores master-planned development located 10 miles south of downtown Sacramento and immediately adjacent to Interstate 5.
Eastdil Secured represented Pine Tree in the transaction. The sale represents Pine Tree’s second acquisition in the Sacramento MSA and contributes to the nearly $375 million in acquisitions for the company in the last 12 months.