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12/16/24
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In a recent NoCal retail buy, Crow Holdings Capital paid $7.3 mil for Petaluma Town Plaza, a 26.7k sf ($273/sf) strip center in Petaluma. The asset was sold by a private investor.
Petaluma Town Plaza, situated at 901 and 905 E Washington St., offers convenient access just off U.S.-101 on one of Petaluma’s major thoroughfares. The shopping center's strategic location near downtown Petaluma and the surrounding residential areas makes it a central hub for daily needs shoppers.
Built in 1991 on a 0.83-acre site, Petaluma Town Plaza features a diverse tenant mix including FedEx, Sherwin Williams, St. Joseph Health, Posh Nails and SalonCentric. Currently 64% leased, the property presents significant upside potential through strategic lease up and the opportunity to reposition its vacant end caps.
Warren McClean and Eric Kathrein with JLL Capital Markets represented the seller in the deal.
"Petaluma Town Plaza presented a tremendous opportunity to acquire a strip center with attractive value-add opportunities in a growing market," said McClean. "The transaction demonstrates the continued strength of investor interest in unanchored retail assets with upside potential in strong suburban markets like Petaluma."
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