Despite one of its anchor tenants – Smart and Final – closing its doors at the beginning of August, the owner of the Yuba-Sutter Mall property says interest from prospective tenants remains high.
Ethan Conrad Properties, a commercial real estate investment company out of Sacramento, has owned the mall for more than two years. Owner Ethan Conrad said the mall has some interesting things underway, including a home products retailer his company is working with and a larger national clothing store that plans to submit a lease proposal any day now for approximately 30,000 square feet of property.
“We’ve also got strong interest from a national, approximately 30,000 square foot, sporting goods tenant,” Conrad said.
The nearly 34,000-square-foot space previously occupied by Smart & Final is owned by CBRE. Conrad said he’s heard there is reasonably good tenant activity for the space.
Current tenants of the mall have also experienced a significant increase to sales in 2019, with sales per square foot of space at around $420. Last year, the totals were around $400 in sales per square foot, and the year before around $380 per square foot of sales.
Conrad also announced plans to renovate the mall earlier this year, though the planned facelift has been held up in the permitting process. He expects construction to begin as early as next spring.
“As far as the planned renovations, it’s taken a bit longer to get the construction drawings finalized and submit for permit than we hoped, but we plan to definitely get them completed within the next 1-2 weeks and are proceeding forward with obtaining the permit and gearing up to start construction as soon as the winter weather is over,” he said.