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SOUTHERN CALIFORNIA — Nuveen Real Estate has selected Vestar to provide property management, strategic leasing oversight, marketing and construction management services for its newly purchased retail portfolio in Southern California. Totaling more than 600,000 square feet, the grocery-anchored portfolio has occupancy rates exceeding 98 percent.
The portfolio includes:
- Campus Marketplace, anchored by Ralphs and CVS/pharmacy in San Marcos, Calif.
- The Pavilion at La Quinta, anchored by Sprouts Farmers Market and Best Buy in La Quinta, Calif.
- River Oaks Shopping Center, anchored by Target, Sprouts Farmers Market, Total Wine & More and Ulta Beauty in Santa Clarita, Calif.
- Bear Creek Village, anchored by Stater Bros. in Wildomar, Calif.
- Old Grove Marketplace, anchored by Ralphs and Lowe’s Home Improvement in Oceanside, Calif.
The addition of these five properties brings Vesta’s Southern California footprint to more than 8.5 million square feet, including The District at Tustin Legacy in Tustin, Long Beach Towne Center in Long Beach, Peninsula Center in Rolling Hills Estates and Rancho San Diego Towne Center in San Diego.