Vestar Selected by Nuveen Real Estate to Manage Newly Acquired Southern California Retail Portfolio

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~ Vestar, a prominent owner and operator of open-air shopping centers in the western United States, has recently been selected by Nuveen Real Estate to oversee the management of their newly acquired retail portfolio in Southern California. This partnership will see Vestar providing property management, strategic leasing oversight, marketing, and construction management services for the portfolio, which consists of over 600,000 square feet of thriving shopping centers with an impressive occupancy rate of over 98%.

The portfolio includes five properties located in various cities across Southern California. These include the River Oaks Shopping Center in Santa Clarita, CA; Campus Marketplace in San Marcos, CA; The Pavilion at La Quinta in La Quinta, CA; Bear Creek Village in Wildomar, CA; and Old Grove Marketplace in Oceanside, CA.

One of the highlights of this portfolio is the Campus Marketplace in San Marcos. This community center is situated in one of North County's most established trade areas and is anchored by popular retailers Ralphs and CVS. It serves a densely populated residential base that includes California State University San Marcos.

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Another key property is The Pavilion at La Quinta, which is a major retail destination in the Coachella Valley. This center boasts anchor tenants such as Sprouts Farmers Market and Best Buy.

The River Oaks Shopping Center in Santa Clarita is also a significant addition to Vestar's management portfolio. With well-known retailers like Target, Sprouts Farmers Market, Total Wine and More, and ULTA as its anchors, this regional shopping center attracts consistent foot traffic.

Bear Creek Village in Wildomar strategically sits near I-15 and is anchored by Stater Bros., making it a convenient shopping destination for residents of the rapidly growing Southwest Riverside County submarket.

Lastly, Old Grove Marketplace in Oceanside is a well-established community center anchored by Ralphs and Lowe's.

Patrick McGinley, President of Management Services for Vestar expressed his excitement about this new partnership, stating, "Nuveen Real Estate is a globally respected leader in the industry and we are proud to be chosen for this significant management assignment. Their reputation for excellence and decades-long track record of strategic, successful investments set the standard in our industry and we're excited to bring our full suite of management services to help drive the next phase of growth for these exceptional assets."

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This collaboration with Nuveen Real Estate adds to Vestar's already impressive Southern California portfolio, which now totals over 8.5 million square feet. Some of their other notable properties in the region include 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.

With over 35 years of experience in the retail real estate industry, Vestar has a proven track record of delivering long-term value to the properties it manages. By attracting new consumers, maximizing occupancy rates, and adapting to changing market needs, Vestar continues to thrive as a leader in the industry.

To learn more about Vestar and their impressive portfolio of properties, visit vestar.com.
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