NEWS
Vestar Secures $8.67M Financing for Twin Creeks Marketplace in Dallas Suburb
Vestar, one of the leading privately held real estate companies in the western United States, announced today that it has secured a 15 year permanent loan with the Lincoln National Life Insurance Company in the principal amount of $8,673,000 for the recently acquired Twin Creeks Marketplace. The 43,134-square foot grocery-anchored neighborhood center is located at 1265 W. Exchange Parkway in the Dallas, Texas suburb of Allen.
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West Elm to Open First Fort Worth Store at West 7th
West 7th Fort Worth is proud to announce that West Elm will open its first Fort Worth location this summer in the development at 2869 West 7th St. The store, located on the high-visibility corner of West 7th and Currie Street, will occupy an 10,502 square-foot space at the street level.
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Peninsula Shopping Center Completes Multi-Million Dollar Redevelopment Welcomed New Stores in 2017
Following an eighteen-month multi-million dollar remodel and expansion, Peninsula Shopping Center announced that it has completed the renovation and welcomed new retailers including Orchard Supply Hardware (OSH), Petco, Ulta Beauty, The Bar Method, AT&T, Verizon, The Habit Burger Grill and Chipotle. In summer 2017, Mod Pizza will open its first location in the South Bay, and will be located next to Habit & Chipotle. The redevelopment increased the Peninsula Shopping Center’s size by 16,579 sq. ft., which included the addition of three new retail/restaurant pads. The changes also featured demolishing the existing pedestrian colonnade and constructing a drive aisle in its place, reconfiguring parking and circulation facilities, creating new junior anchor spaces, improving sidewalks, and installing new soft seating and new monument and wayfinding signage as well as new landscaping.
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Vestar Selected to Manage Plaza Paseo Real in Carlsbad, Calif.
Vestar, one of the leading privately held real estate companies in the western United States, has been retained as the property management firm for Plaza Paseo Real, a 147,848-square-foot grocery anchored neighborhood shopping center in Carlsbad. Vestar is currently managing more than two million square feet of retail space in the San Diego area including Clairemont Town Center, Marketplace at Windingwalk, Penasquitos Village and Rancho San Diego Towne Center.
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$15 Million Renovation Underway for Desert Ridge Marketplace
Phoenix-based Vestar has commenced the renovation of its shopping center Desert Ridge Marketplace located off Loop 101 and Tatum Boulevard in north Phoenix. The $15 million overhaul is being done with the community, residents and visitors to the area in mind.
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Valley Fair Mall Management Contract Awarded to Vestar
Valley Fair Mall in West Valley City has awarded the management contract to Vestar effective January 1, 2017. Valley Fair Mall is conveniently located at the intersection of I-215, 3500 South and 2700 West (Constitution Boulevard) and boasts 831,667 square feet of fresh and inviting retail space with 87 shops and restaurants, including JCPenney, Larry H. Miller Megaplex Theater, Costco, Cinemark Movies 9, Ross Dress For Less, Bed, Bath & Beyond and Ulta Beauty.
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