Elk Grove's Bond Road Plaza Five Months Later - One Step Forward, Two Steps Back

July 23, 2013 |

Last February EGN posted a story on the strip center located on the northeast corner of Bond Road and Elk Grove-Florin Road. Recently we visited Bond Road Plaza to see if the slowly improving economy was making its way there.

First the good news - there are two new businesses located there. Since we lasted visited, Foot & Body Reflexology and Elk Grove Wireless Repair opened for business, the latter of which is celebrating its grand opening and the former at about the time of the original post.

While the center gained two new businesses, it also suffered a major setback when its de facto anchor tenant closed in the last couple months. Kame Sushi Buffet, which appears to have been Bond Plaza's largest tenant and the second buffet style restaurant to occupy the space, closed doors after being open for a little over one year.

An inspection of some of the empty spaces show one sign with what could be a triple-net sublease offer for $2,900 a month. That sign was placed in the space formerly occupied by the Papa John's take-out pizzeria.

Some of the other spaces we detailed in our first story continue to be empty with no indication that new tenants would be moving in.

While the location of this strip center may not be the  best, it does show us that with an economy improving at a glacial rate, demand for less than prime commercial real estate continues to lag. It is not until we start to see strip centers like this approach 85 percent occupancy will Elk Grove's economy truly have rebounded.

Pigeons now roost on the roof of the under-occupied strip center.

The strip center's newest business is a cell phone repair shop.

Massage and reflexology parlors are Elk Grove's newest group of small businesses.

 

The former Papa John's store is available for $2,900 a month.