Tallen Capital Partners and Citivest Purchase Citrus Heights’ CA Bank Building, Leases Property to See’s Candies for New Flagship Store
Citrus Heights, CA (October 4, 2022) – Tallen Capital Partners, LLC, and Citivest Commercial, Inc. acquired the well located, two-story building pad formerly housing a regional Patelco Bank from Patelco Bank on May 23, 2022. See’s Candies has entered a long-term triple net lease for the building to house its first flagship store with a retail shop, business-to-business operations, and regional offices.
The freestanding 10,621 square foot, two-story building, is located at the high traffic intersection of Sunrise and Uplands Way. “See’s Candies representatives have relayed to us that they have found the perfect location for their first corporate flagship operation in over 100-years,” said Terry Tallen, CEO, Tallen Capital Partners, LLC (TCP). We are immensely proud to add this jewel box to our growing retail portfolio.”
TCP and Citivest are known in the retail real estate industry for the successful repositioning of properties and achieving significant returns on invested capital through the redevelopment of under-performing shopping center and retail projects in both urban and suburban markets. The companies believe the value creation process depends on establishing strong relationships within communities, staying connected to the market, adeptly addressing the discretionary approval process, while focusing on establishing successful locations for its national, regional, and local tenant and broker relationships. They completed the redevelopment of the renown Rossmoor Shopping Center in Walnut Creek, CA in early 2020
“We have been active in the greater Sacramento, CA market for over 20-years and look forward to acquiring additional retail and multifamily properties in our state’s capitol. See’s representatives have advised us that they are consolidating several other locations in the greater Sacramento marketplace to create the flagship store which See’s stated will include their popular retail store, a business-to-business unit for corporate sales as well as the relocation of their nearby corporate offices,” says Mr. Tallen.
Both transactions were brokered by Carol Therien of Walnut Creek-based Retail Pacific.
About See’s Candies
For over 100 years, See’s Candies has been dedicated to making candy Mary See’s way. Only the finest, freshest ingredients are used in making each recipe. American made, famous for deliciousness, with the friendliest customer service—since 1921. Today, customers can choose from over 100 different candies and chocolates, whether shopping online or visiting one of See’s iconic black-and-white checkered shops. Founded and headquartered in sunny California, See’s Candies has expanded from one candy shop to over 250 shops across America and a flourishing online store.
About Tallen Capital Partners (TCP)
TCP is a brand centric, privately held, vertically integrated retail and mixed-use real estate investment and development organization with offices on the West Coast, Florida, and the Midwestern US. The company is currently in negotiations to entitle and develop a 265-unit luxury market and affordable rate apartment community adjacent to TCP’s Marina Landings Walmart located on the historic Monterey Peninsula. The company is currently seeking venture opportunities on the West Coast, Florida, the Mid-West Mexico and Europe. TCP’s projects are marketed and promoted via TallenTime.com.
About Citivest
Citivest is a full-service real estate investment company specializing in adding value and achieving excellent returns for its investors through strategic acquisitions, ground-up development, and property repositioning, including renovation, leasing, and management improvements. Citivest’s strategic acquisition programs include the purchase of distressed residential and commercial properties and secured notes, throughout the United States, with a concentration in California, Arizona, and Nevada.
Media contact for TCP: Judy Rowcliffe, [email protected] 415 606 4355