Business & Real Estate

Sacramento firm purchases La Borgata complex in El Dorado Hills

La Borgata Shopping Center in El Dorado Hills was purchased for an undisclosed price by Sacramento’s Ethan Conrad Properties Inc.
La Borgata Shopping Center in El Dorado Hills was purchased for an undisclosed price by Sacramento’s Ethan Conrad Properties Inc. Ethan Conrad Properties

Sacramento’s Ethan Conrad Properties Inc. said Tuesday that it has completed the purchase of the upscale La Borgata Shopping Center in El Dorado Hills.

The purchase price of the six-building, mixed-use center at 3901-3911 Park Drive was not disclosed.

Existing tenants in the complex include the Sienna restaurant, Sky Sushi and Bank of America.

The local commercial real estate company said it has also signed a lease with Bella Home Décor, an upscale home-furnishings store, and has three other leases pending, as well as a potential sale of one of the buildings.

The firm said the original property loan went into default in 2009, and La Borgata has struggled with “vacancy issues” in recent years. The real estate firm said it plans an extensive remodel and upgrades at the site.

Mark Glover: 916-321-1184, @markhglover

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