Proequity News

ProEquity Asset Management Named the 6th Fastest Growing Third-Party Property Manager in the US

The 28th annual Chain Store Age survey of Fastest-Growing Managers tallied square footage and ranked the top companies with new domestic and international third-party management and leasing contracts obtained during the 2016 calendar year. ProEquity Asset Management ranked sixth with 1.8 million sq. ft. of new contracts in 2016.

“ProEquity was a child of the recession,” Michael H. Turner, CEO of the El Dorado Hills, Calif.-based company. “We have a great program that takes over the projects, runs them, and sells them.”

“I anticipate that 2017 will be a fantastic year,” Turner said. “We’re already ahead of last year.”
Read the full article here.

Mathnasium Signs New Lease in Sacramento’s Arden Arcade

SACRAMENTO, Calif. – National math learning center, Mathnasium, signed a lease with plans to open a new franchise location in Sacramento’s Arden Arcade in early 2017. The new store, a 1,400 SF retail space located at 3333 Arden Way, will be one of several Mathnasium centers in the region that is owned and operated by franchisee Jeff Pudewell / Y Corporation.

The tenant was represented in the transaction by Tom Conwell of Newmark Cornish & Carey. The landlord, United Growth Capital Management Corporation, was represented by Gretchen Tobin and Keith Mellor of ProEquity Real Estate Services, a division of ProEquity Asset Management Corporation.

ProEquity Asset Management Corporation is a fully integrated commercial real estate service company providing a full-service range of solutions, with offices in California, Utah and Arizona.

Bella Home Décor Takes New Lease in El Dorado Hills

EL DORADO HILLS, Calif. – Cameron Park-based luxury home décor store, Bella Home Décor will be opening a second store in El Dorado Hills in early October, 2016. The new store in the upscale La Borgata at Serrano center will occupy 2,427 square feet of retail space, next to Flightz Wine Pub.

“I have always loved home décor and once dreamed of opening my own business. Well, it’s a dream come true. I am opening my second store in October and I am so excited,” says owner, Mary Veenhuis. Bella Home Décor offers vintage handmade and hand-painted furniture, luxury bedding and accessories including Bella Notte linens and unique clothing and gifts.

The tenant was represented in the transaction by Gretchen Tobin of ProEquity Real Estate Services, a division of ProEquity Asset Management Corporation. ProEquity Real Estate Services procured several other leases at La Borgata in recent months including Le Grandeur Aesthetics & Anti-Aging and Flightz Wine Pub. The property was purchased in August by Ethan Conrad Properties.

ProEquity Asset Management is a fully integrated commercial real estate service company providing a full service range of solutions, with offices in California, Utah and Arizona.

ProEquity Realty Partners Purchases Forever 21 Space, Yuba Sutter Mall, Yuba City, California

YUBA CITY, Calif. – ProEquity Realty Partners along with CRG Investments, announces its purchase of the former Forever 21 within the Yuba Sutter Mall, Yuba City, California. Previously owned by Forever 21, the building was purchased vacant. The buyers are in discussion with several national retailers to replace Forever 21 and will most likely open Spring of 2017. Since its foreclosure by LNR Partners, the Mall as seen some slow and steady improvement. A new anchor tenant in this former Gottschalks space would be a welcomed addition to the mall.

ProEquity Realty Partners is an active buyer of distressed or opportunistic commercial real estate throughout the United States. It is an investment company related to ProEquity Asset Management who is a fully integrated service platform who specializes in asset management and receivership work throughout the United States.

ProEquity Asset Management Successfully Resolves Sacramento Office Property

SACRAMENTO, Calif. – ProEquity Asset Management recently completed the disposition of an office building in Sacramento. The property known as 304 “S” Street Office is a 30,610-square-foot office property that has been acquired by University Enterprises, Inc. (UEI), a nonprofit public benefit corporation and authorized auxiliary of California State University, Sacramento. Sacramento State will be locating its planned School of Public Affairs at the property, which is located blocks from the State Capitol. No state funds were used to acquire the asset on behalf of the University. Jeffrey P. Fanzo was appointed Receiver in March 2016, and ProEquity Asset Management Corporation was hired as the Real Estate Broker and Property Manager.

ProEquity Asset Management is a full-service real estate firm that specializes in receivership, property management, brokerage, development, and investments.

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