A troubled shopping center in one of the Sacramento area's most affluent communities has a new owner. The Sacramento Business Journal's Digital Editor Sonya Sorich says Ethan Conrad Properties has announced it's closed escrow on La Borgata at Serrano.
"Ethan Conrad Properties does have a history of reviving various struggling centers in the area, securing new leases, things like that," says Sorich. "For the near future there is a plan to address some maintenance issues at the center."
La Borgata was built in 2003. It fell into default in 2009 because of increasing expenses and a slump in leasing. Ethan Conrad Properties says it has already secured an upscale furniture store for the center, which has both retail and office space.
Sorich also has news about the Macy's in downtown Sacramento and plans for a courthouse at the downtown railyard.