Rouse Properties Buys Fig Garden Village in Fresno for $106M

FRESNO, CALIF. — Rouse Properties has acquired Fig Garden Village, a 301,459-square-foot lifestyle center in Fresno, for $106.1 million. The center is located at 5082 N. Palm Ave.

Fig Garden Village is anchored by Whole Foods. Other notable tenants include Lululemon, Williams-Sonoma, J. Crew, Pottery Barn, Chicos, White House Black Market, Chipolte and Starbucks.

The center was built in 1956 and renovated in 2007. It was 93.9 percent leased at the time of sale.

The acquisition was financed with a new $74.2 million, non-recourse CMBS loan that features an interest rate of 4.14 percent.