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5/05/16
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Vestar has acquired Sierra Oaks Plaza, a 105.6k sf, neighborhood shopping center in Granite Bay, CA, for $28.1 mil ($266/sf). Sierra Oaks Plaza is located at the intersection of Douglas Blvd and Sierra College Blvd, roughly 25 miles northeast of downtown Sacramento.
The center is anchored by Walmart Neighborhood Market. Other notable tenants include Chick-Fil-A, Crunch Fitness, Tri Counties Bank and Habit Burger.
“Sierra Oaks Plaza fits well in Vestar’s acquisition strategy of investing in grocery-anchored centers in high traffic, densely populated areas,” said Clint Marchuk, vice president of acquisitions with Vestar. “We plan to continue acquiring strategic centers in key markets that have strong demographics and growth such as Sierra Oaks Plaza.”
Over the past 12 months, Vestar has acquired six retail centers valued at $700 mil throughout the western states.
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