Crestview Village Upgrades

August 22, 2022

By Jake Abbot – Staff Writer, Sacramento Business Journal

Crestview Village has undergone a major face-lift since being sold last year, and more changes are in the works for the Carmichael shopping center.

Local real estate investor Ethan Conrad purchased the property for $13.6 million in January 2021. Since then, an approximately $2 million renovation project has been carried out. Upgrades included a general face-lift to the development’s facade, repaving, new paint and some replaced roofing to certain areas.

Crestview Village is a 189,530-square-foot center anchored by Save Mart Supermarkets, at 4708-4794 Manzanita Ave. in Carmichael. Other tenants include Big 5 Sporting Goods, Hungry Hollow Cafe, Bath & Body Works, Sally Beauty Supply and Subway.

Andy Jonsson of Rome Real Estate Group, who handles leasing for the property, said two additional tenants have signed leases for the center in recent months.

National dialysis clinic chain Satellite Healthcare signed a 10-year lease for approximately 12,000 square feet. AAA also signed a 10- year lease to take over a former auto repair shop at the site, which will be turned into a 6,200-square-foot auto repair and insurance center.

Another major change in the works includes a $3 million remodel and rebranding of the development’s Save Mart, which will be converted into a FoodMaxx. That’s expected to take place in early 2023. FoodMaxx is under the same ownership umbrella as Save Mart, which extended its lease for the Carmichael location for another 15 years, Jonsson said.

“The owners (of the grocery chain) did some modeling on how FoodMaxx would do in that market and given its demographics, they felt FoodMaxx would be more of a success,” Jonsson said.

Much of the center is still vacant, with 10 suites totaling a combined 92,474 square feet of available retail space and two 30,000-square-foot stand-alone pads.

One of the largest available spaces, a 37,500-square-foot suite formerly occupied by Ross Dress for Less, is being considered by a national fitness tenant. Jonsson said the fitness chain, which he declined to identify, was close to signing a lease.

In July, City Sports Club, which is affiliated with the LA Fitness brand, filed a research request with Sacramento County to determine the feasibility of occupying the space at 4760 Manzanita Ave. in Carmichael. Representatives of City Sports Club did not respond to a request for comment.

Jonsson said a national drive-thru restaurant chain is also in escrow to purchase one of the 30,000-square-foot stand-alone pads at the center, though he declined to disclose the potential tenant.

As for the remaining available suites, one of the major focuses will be in attracting soft goods retailers, which includes apparel and home goods, Jonsson said.