STEADFAST COMMERCIAL PROPERTIES GAINS 1.2 MILLION-SQUARE-FOOT RETAIL CENTER
CITRUS HEIGHTS, CALIF. — Newport Beach, Calif.-based Steadfast Commercial Properties Retail Division has acquired Sunrise Mall, a 1.2 million-square-foot super-regional shopping center located in Citrus Heights. At the time of acquisition, the property was 94 percent occupied by a variety of tenants, including Macy’s, Macy’s Men & Home, JC Penney, Sears, United Artist Theaters and 115 shops, services and specialty retailers. Originally constructed in 1971, the property received a $13 million renovation in 1999 and a 400-seat food court was added to the center in 2007. The seller and acquisition price were not disclosed.