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Aging Shopping Mall Fetches $19.3 Mil

SACRAMENTO, CA-Arizona Partners of Phoenix acquires 369,000-sf of the 535,000-sf, 40-year-old Country Club Plaza from UBS Asset Management with the intention of spending $10 million to renovate the facility and upgrade the tenant mix.

By Becky Bergman | Updated on March 15, 2001

SACRAMENTO, CA-Arizona Partners of Phoenix has acquired 369,000 sf of the 535,000-sf Country Club Plaza shopping mall here for $19.3 million. Not included in the deal is a 166,000-sf Macy’s that anchors the 40-year-old mall.

Located at the intersection of Watt and El Camino Avenues, Arizona Partners bought the property from overseas owners UBS Asset Management, a subsidiary of UBSAG, a company formed by the merger of Swiss Bank Corp. and Union Bank of Switzerland. CB Richard Ellis’ Bill Palmer brokered the deal.

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