Merlone Geier Partners Sells Fairway Commons I in Roseville, Calif., for $32MM

By Kate Snyder

Merlone Geier Partners is continuing its streak of selling off retail centers up and down the West Coast with its recent sale of a shopping center in Roseville, Calif.

The shopping center, Fairway Commons I, is located at 5701-5811 Five Star Blvd. and has recently been sold, according to Merlone Geier’s website.  Industry reports show the retail center was sold for $32.25 million to entities affiliated with Vintage Properties LP.

Fairway Commons I was built in 2005 and is approximately 130,460 square feet, according to a previous listing on LoopNet, which would put the recent selling price at $247 per square foot.. 

According to Google Maps, stores within Fairway Commons I include Joann Fabric and Crafts, Total Wine & More, Guitar Center and Tuesday Morning. Neighboring properties include Chuck E. Cheese, Les Schwab Tire Center, and Dick’s Sporting Goods.

According to its website, Merlone Geier Partners is primarily focused on community and neighborhood shopping centers and has been actively investing in West Coast retail since 1993. Its predecessor was M&H Realty Partners. To date, the firm has acquired 173 West Coast properties representing in excess of 28.6 million square feet.

“We invest in West Coast retail properties and actively perform our own leasing, property management, construction management, design and capital formation,” the firm’s website states.

During the past six months, the San Francisco-based firm has sold off a number of retail properties along the West Coast.

Last month in the Puget Sound region, the company sold the 118,582 square foot Sunset Square shopping center in Federal Way for $23.6 million, or about $199 per square foot. The property, which is located at 1207 320th Street, was sold to a real estate fund affiliated with Archway Capital Partners, according to previous reporting from The Registry.

Down in Palmdale, Calif., in July, Merlone Geier sold a 250,000 square foot shopping center for $56.75 million, or about $227 per square foot. It was the firm’s second sale in Palmdale in just over a month, according to The Registry’s previous reporting.

West Coast Commercial Real Estate News