Folsom Town Centre
Retail | 5.80% CAP | 43,216 SqFt
Marketing description
CBRE is pleased to present Folsom Town Centre, a Trader Joe's-anchored shopping center located in the heart of Folsom, California. This irreplaceable grocery-anchored asset offers investors a unique opportunity to acquire a well-established, income-producing property in one of the most affluent and rapidly growing submarkets in the Sacramento region.
Folsom Town Centre benefits from a high-traffic, point-of-destination location along E Bidwell Street, the main retail corridor in Folsom, with over 900 feet of frontage and excellent visibility. The property is shadow-anchored by Lowe's and situated within a dense retail hub that includes national tenants such as Walmart, Target, HomeGoods, Sprouts, Kohl's, and Dick's Sporting Goods. The center's strategic positioning near Lembi Park and between two major thoroughfares provides unmatched accessibility for local and regional patrons.
The property features strong historical occupancy and a secure, established income stream with 5 tenants totaling 35,047 SF (88% of leased GLA) having occupied the property for 14 years or more. Notably, Trader Joe's recently exercised a 10-year renewal option, underscoring the long-term viability of the center. The asset also presents embedded value with below-market rents for key tenants, creating future upside opportunities for NOI growth and tenant mix curation.
Folsom Town Centre is situated in one of California's fastest-growing cities, with proximity to over 11,000 new homes recently built or planned south of Highway 50. The trade area demographics are exceptionally strong, with average household incomes exceeding $131,000 within a 1-mile radius and $178,000 within a 5-mile radius. This combination of high-quality tenancy, embedded value, and superior location makes Folsom Town Centre an ideal 1031 exchange opportunity and pride-of-ownership asset for investors seeking stable cash flow and long-term appreciation potential.
Investment highlights
- Trader Joe's Anchored Shopping Center - Anchored by Trader Joe's and shadow anchored by Lowe's (NAP) along with a synergistic mix of co-tenants including Home Consignment Center, Adam's Meat Shop, A-1 Comics, Beauty Haus Nails, and more
- Leasing Momentum - Trader Joe's recently exercised a 10-year renewal option proving its commitment the site and the longterm viability of the shopping center
- Strong Historical Occupancy - Secure, established income stream - 5 tenants totaling ±35,047 SF (88% of the leased GLA) have occupied the property for ±14 years or more including national brands Trader Joe's and Home Consignment Center having operated for +21 years, demonstrating a recession resistant asset with high tenant demand
- Embedded Value, Low In-Place Rents - Trader Joe's and the Home Consignment Store are currently paying below market rates enhancing the long-term security and creating future upside opportunity with replacing Home Consignment, to curate an optimal tenant collection while driving NOI growth
- High-Traffic, Easily Accessible Location - Folsom Town Center is situated on E Bidwell St (±22,849 CPD), Montrose Dr (±5,030 CPD), and adjacent to Blue Ravine Rd (±20,705 CPD), and less than 2 miles away from El Dorado Fwy (±97,490 CPD), making the property easily accessible to local and regional patrons alike
- Retail Hub - Located within the retail hub of Folsom with name brand tenants including: Lowe's, Walmart, Kohl's, Target, HomeGoods, Sprouts, Raley's, Dicks, Office Depot, Petco, 24 Hour Fitness, Dollar Tree, Starbucks, Chipotle, Starbucks, Wendy's, Habit Burger, IHOP, Smashburger and others
- Point of Destination Location - Folsom Town Center is located proximate to Lembi Park (sports park and aquatics center) and is between two major streets, E. Bidwell Street - the main thoroughfare in the trade area, and Montrose Dr - connecting Folsom to Orangevale, Fair Oaks, and Roseville
- Significant Frontage and Visibility - Unmatched visibility with over 900 feet of frontage along E Bidwell St, the trade area's primary arterial
- More than 15,025 people within a 1-mile radius, with an Average Household Income of $131,184
- More than 85,379 people within a 3-mile radius, with an Average Household Income of $167,174
- More than 164,077 people within a 5-mile radius, with an Average Household Income of $178,877
- Growing Residential Proximity - Proximity to ±11,000 new homes recently built or planned in Folsom on the south side of Highway 50. Folsom ranks as the third fastest-growing city in California according to the State Finance Department, keeping the property busy during all days of the week
- Pride of Ownership Asset - "Trophy" grocer property in the heart of Folsom on Bidwell Street, one of the major retail corridors in the trade area
- Essential, "Daily Needs" Draw - Trader Joe's is located in a point of destination location, supplying the trade area with essential "daily necessity" grocery items
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