JLL closes sale of lifestyle center in South Lake Tahoe

SAN FRANCISCO, January 22, 2020 – JLL Capital Markets announced that it has closed the sale of The Crossing at Tahoe Valley, a 46,041-square-foot, newly redeveloped trophy lifestyle shopping center in South Lake Tahoe, California.

JLL marketed the property on behalf of the seller, Sacramento-based Sutter Capital Group. A private investor purchased the asset in a 1031 Exchange.

Originally constructed in 1973, Sutter Capital Group guided The Crossing at Tahoe Valley through a transformative renovation in 2017 to become the recognizable destination lifestyle shopping center it is today.  

The Center’s new design features an institutional-quality mountain contemporary buildout with a large outdoor communal plaza with casual seating, fire pits and an elevated stage that hosts daily live music performances. The Property is 87% leased to a mix of award-winning local restaurants, health and wellness services, boutique shops, as well as one of the top-performing Big 5 stores in the retailer’s portfolio.

The Crossing at Tahoe Valley is situated on 4.9 acres at 2014-2062 Lake Tahoe Boulevard, is in the center of one of the world’s most renowned tourist destinations and is less than two miles from Lake Tahoe’s southern shore.

The JLL Retail Capital Markets team representing the seller was led by Senior Director Eric Kathrein, Managing Director Bryan Ley, and Analyst Jake Dempsey.

“During the marketing process The Crossing saw significant interest and received multiple competitive offers due to the irreplaceable location and best-in-class tenant line-up in South Lake Tahoe,” said, Eric Kathrein.

“Sutter Capital Group was able to reposition the Property into something special that has resonated very well with the local community and investors,” added Bryan Ley.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Sutter Capital Group is a privately held commercial real estate investment management firm focused on identifying, acquiring and managing attractive investment opportunities in its native market of Sacramento, California. Visit suttercap.com for more information.