Vestar Awarded Management of 865,783-Square-Foot Pacific Commons Power Center in Fremont, California
Vestar announced today that it has been retained by a large institutional Owner to handle the property management, leasing and marketing of Pacific Commons, an 865,783-square-foot power center situated on 80 acres in Fremont, Calif.
Vestar has a wealth of experience in Real Estate and talent to Pacific Commons as the company currently manages more than 22 square feet in California, Arizona, Texas, and Nevada. The company intends to refresh the property’s merchandising strategy while enhancing the shopping experience through marketing programs and community-oriented events. Vestar’s focus on Real Estate will help to bring new life to Pacific Commons.
“In the ever-changing retail industry, institutional owners understand that an experienced multiservice provider is necessary for the success of a center,” said Patrick McGinley, SCSM, Vice President of Property Management at Vestar. “Vestar has a proven track record in leasing, management and marketing, and we are excited to deliver superior results to our client and the community.”
With the addition of Pacific Commons, Vestar has hired Jennifer Duarte as general manager for the asset. For the past 20 years, Duarte has excelled as one of the premier retail property managers in California. From 2002 to 2009, she served as general manager for Vestar, overseeing multiple centers in California.
As Northern California’s largest power center, Pacific Commons is currently 98 percent leased to several national tenants including Kohl’s, Lowe’s, Costco, Nordstrom Rack, Babies R’ Us/Toys R’ US, DSW and a new TJ Maxx/HomeGoods. Located at the southwest corner of I-880 and Auto Mall Parkway, the center serves residents from Union City to Milpitas with nearly 200,000 cars passing daily.