Leasing agent reports relocation deals negotiated for 3 CNU-Stonelake Landing shopping center tenants

According to information posted on social media, three tenants of the California Northstate University's Stonelake Landing shopping center have negotiated relocation deals. The information was posted by Christina Snyder.

A commercial leasing executive with Roseville-based, Snyder said the three tenants - Stonebake Pizza, Razor Sharp Kutz and Body & Hair By Marie - have agreed to the packages being offered by CNU. Snyder said she represents seven Stonelake Landing tenants.

The relocation of tenants has been a sticking point for CNU who is seeking to demolish the shopping center in the Stonelake neighborhood as they pursue approvals needed for their proposed $900 million, 400-bed hospital. The proposed hospital has generated considerable controversy and has become a political problem for Elk Grove City Councilmember Darren Suen who represents the area.

In addition to the announcing the deals, Snyder said:

"Please support them in their relocation. I’m looking for places now to move them. The terms are confidential and this has been stressful for them. They can all use your prayers and support."

At a special meeting of the Elk Grove City Council on August 28, Snyder criticized CNUs negotiation tactics saying they were ghosting her. Those comments can be viewed in the video below. 

In response to the posting, a number of people commented on Snyder's announcement. This comment came from a business owner and tenant in Stonelake Landing:

I don’t know how they can do a “buy out” without these guys having a new home to move to. But if they are paying people to close their shop doors, that’s a new narrative.

Comments from others include the following:

I'm happy these tenants were happy with a deal. What I DO NOT want to see is CNU using the current occupancy as a point to prove that Stonelake Landing is not successful. Because they are causing that occupancy to decrease.

The business owner posted above replied saying:

Yes they are. And they need to pay a few folks to say they are “working” with small business which really means “pushing out small business out of Stonelake”.

One other comment also expressed concern that given the years-long approval process for hospitals the demolition could lead to another black eye for Elk Grove's reputation.

Those CNU people can’t build for at least seven to ten years. 

Why are they forcing the tenants out?

How are they going to make the loan payments on the shopping center? 

Will the center end up going into foreclosure?

Ghost Center?

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