Vestar Acquires Retail Center in Granite Bay, CA for $28.1 Million
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.