The new store in Citrus Heights will be part of the Auburn Commerce District, in a 129-acre retail and service section is being called Stock Ranch. The district already includes more than 426,000 sf of retail space on Auburn Boulevard and Sylvan Road.
There are more than 300,000 people living in and around the new location and Lowe's company officials believe they can tap into that area population but declined any additional comments. Current plans also include a Wal-Mart and Costco along with the possibility of a supermarket.
Due to the population growth in the Sacramento area, the company also foresees major market growth at the Elk Grove location just north of Power Inn Road and Calvine Road. To meet the demand, the location is being expanded to contain more than 48,000 sf of garden space.
In Vacaville, the company is planning a store at Highway 65 and the new Pleasant Grove interchange. Lowe's expects more new stores in the Sacramento region to follow the building of and expansion of these stores in the future but declined any additional comments.
According to Marcus & Millichap, the Sacramento region will continue to benefit from its close proximity to the overpriced Bay Area. The Sacramento retail sector has grown by more than 2.5 million sf since 2000 and current plans include another 2.8 million sf of space by the end of 2001.
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