Aiad and Hoda Samuel purchased the former Mar-Val grocery store at Mar-Val Plaza for $1.5 million.
Aiad and Hoda Samuel purchased the former Mar-Val grocery store at Mar-Val Plaza from CRP Properties for $1.5 million, or about $18 per square foot.
The 81,595-square-foot building is the main property at the Rio Linda Shopping Center and was constructed in 1960 and renovated in 2001. It is in the Rio Linda/North Highlands submarket and was 56 percent leased at the time of sale.
In 2006, Kamaljit Kaur and Pal Banga purchased the Mar-Val Plaza. Total consideration for the deal was $5.45 million, or approximately $57.50 per square foot.
The 95,000-square-foot center consists of four buildings and is on 11.2 acres. Built in 1960, the property also known as Mar-Val Shopping Center was 70% occupied at the time of the sale.
