NEWS
Vestar Retools Retail Units as State-Of-The-Art Experimental Space
As the retail sector continues to react to the rise of e-commerce platforms — as well as to changes in consumer spending habits and broader economic trends — developers and landlords are increasingly repurposing their retail spaces, according to privately-held shopping center owner and property manager Vestar.
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Vestar Reaches Portfolio Benchmark with Bay Area Acquisition of East Washington Place for $55 Million
Vestar, one of the largest privately held shopping center owners in the western United States, just got bigger. With its purchase of East Washington Place, a more than 340,000-square-foot shopping center in Petaluma, California, Vestar’s portfolio has crossed the 30 million-square-foot threshold.
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Vestar Acquires Best in the West Retail Center in Las Vegas, Nevada
Vestar, one of the leading privately held shopping center owners in the western United States, announced today that it has purchased Best in the West, a 465,000 square-foot retail center in Las Vegas, Nevada. The property was acquired from Weingarten Realty Investors. In addition to Best in the West, Vestar owns and operates multiple properties in the Las Vegas area including The District at Green Valley Ranch, a 385,000 square-foot, Whole Foods-anchored lifestyle center in Henderson, and Crossroads Towne Center a 149,000 square-foot center in Las Vegas.
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$22 Million Redevelopment Puts Phoenix’s 15-Year-Old Desert Ridge Marketplace Back in the Heart of its Community
One could say that Desert Ridge Marketplace has grown up with its customers. The 1.2 million-square-foot lifestyle and power center, located in the 5,700-acre Desert Ridge master-planned community of the Phoenix Northeast Valley, officially reopened this past November, after a $22 million renovation.
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Vestar to Manage Washington Retail Center
Vestar, a real estate company specializing in the acquisition of entertainment-retail centers, is the new manager of The Landing. The property is a 607,000-square-foot shopping mall located in Renton, Wash., and represents the second asset managed by Vestar in the Pacific Northwest. The company also owns and manages James Center, a 140,240-square-foot retail center in Tacoma, Wash.
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Vestar Wins Gold U.S. Maxi Award at Recon 2017 Conference in Las Vegas
Vestar, one of the leading privately held real estate companies in the western United States, was a winner of a 2017 U.S. MAXI Award from the International Council of Shopping Centers (ICSC) at the organization’s RECon 2017 conference in Las Vegas. Vestar received a Gold Award in the Traditional Marketing category for its “Shop & Text, Don’t Text & Drive” campaign which was created by Vestar Marketing director, Heath McCue CMD and implemented at three of its centers, The District at Green Valley Ranch in Henderson, Nevada; Pacific Commons Shopping Center in Fremont, California; and Peninsula Shopping Center in Rolling Hills Estate, California.
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