SACRAMENTO, CALIF., MAY 4, 2016 – Vestar, one of the largest privately held retail real estate companies in the western United States, announced today that it has acquired Sierra Oaks Plaza, a neighborhood shopping center located in Granite Bay, California for $28.1 million.
Sierra Oaks Plaza is located at the intersection of Douglas Blvd and Sierra College Blvd in the affluent community of Granite Bay located in the Sacramento metropolitan area. The center totals 105,555 square feet and is anchored by Walmart Neighborhood Market. Other notable tenants include Chick-Fil-A, Crunch Fitness, Tri Counties Bank and Habit Burger.
“Sierra Oaks Plaza fits well in Vestar’s acquisition strategy of investing in grocery-anchored centers in high traffic, densely populated areas,” said Clint Marchuk, vice president of acquisitions with Vestar. “We plan to continue acquiring strategic centers in key markets that have strong demographics and growth such as Sierra Oaks Plaza.”
Over the past 12 months, Vestar has acquired six retail centers valued at $700 million throughout the western states.
One of the leading privately held real estate companies in the western United States, Vestar specializes in the acquisition, management, and development of commercial real estate, including entertainment-retail complexes, power and lifestyle centers, and neighborhood centers of varying size and scale that serve as community shopping destinations with a unique sense of place. Vestar currently owns and manages over 25 million square feet of retail assets in the western U.S. For more information, please visit www.vestar.com.