Yuba City, CA, September 7, 2017 – ProEquity Asset Management announces today the successful, repositioning of 73,000 square feet of retail at the former Gottschalks space at Yuba Sutter Mall in Yuba City, California. Construction for the space began in mid-August and tenants are slated to open by the end of 2017.
The three new national retailers for 905 Colusa Avenue will include Smart & Final Grocery, Planet Fitness and Rockin’ Jump Trampoline Park. ProEquity Realty Partners (PRP), an affiliate of ProEquity Asset Management, purchased the asset from Forever 21 in May 2016 and will continue to manage the property and oversee construction.
“Since the purchase last spring, our biggest priority was to find the right mix of retailers to meet the community of Yuba City’s growing needs. This collection of tenants provides an e-commerce resistant rent roll in line with the direction major retail is heading,” states Michael Turner, CEO and Managing Director, ProEquity Asset Management. “Smart & Final, Planet Fitness and Rockin’ Jump will serve as regular destinations for the residents of Yuba City, and each has signed long-term commitments, emphasizing their dedication and commitment to the community. This project underscores our ability to acquire and execute an aggressive leasing strategy to restructure and revitalize investments, and we are actively looking to do more of this type of investing in the future.”
For more information about 905 Colusa Avenue or ProEquity Asset Management, visit www.proequityam.com.
About ProEquity Asset Management Corporation
ProEquity Asset Management is a full-service commercial real estate services company providing comprehensive solutions for real estate occupiers, owners and investors throughout the Western, Southwestern and Midwestern United States.
The firm leverages 100+ years of combined experience to deliver a broad range of integrated services including asset management, property management, receivership, leasing, advisory, development and construction management services. The goal being to provide a superior road map and resources that will allow clients to best understand market dynamics and proactively position their assets for exceptional results in a competitive marketplace and to execute the client strategy while constantly reassessing strategic positioning and mitigating risk.
ProEquity is recognized as a leading provider to some of the nation’s largest commercial real estate institutional owners, servicers, law firms, and private owners, and one of the fastest growing and successful commercial real estate services firms in the nation.