PROEQUITY ASSET MANAGEMENT AND STRATEGIC PARTNER PURCHASE POWER PLAZA FOR $19.5M IN VACAVILLE, CALIFORNIA
Vacaville, CA – ProEquity Realty Partners, an affiliate of ProEquity Asset Management (ProEquity), is proud to announce the purchase of Power Plaza, for $19.5 million, with RFIII, their strategic partner. Power Plaza, purchased out of special servicing, is a fantastic value-add opportunity with new anchors Restoration Hardware and Sprouts Farmer Market Grocery. ProEquity plans to leverage the centers strong anchors and location to continue leasing velocity and fill the remaining anchor space of 17,500 square feet, along with several excellent inline and pad opportunities.
Located in California’s Central Valley, Power Plaza is situated in the city of Vacaville, at the corner of Helen Power Drive and Interstate 80 with exceptional visibility from the highway. The 112,900 square foot property is situated on 9.91 acres, with 36,398 square feet available for potential new tenancy. The property shares common access with the adjacent Walmart Supercenter, and is ideally situated near several other major retailers including Target, Sam’s Club, Vacaville Premium Outlets, and Nut Tree Plaza. Power Plaza’s potential for growth and sustained occupancy is apparent as Vacaville’s population continues to grow, outpacing state and national levels, in a 97% leased retail submarket.
ABOUT PROEQUITY ASSET MANAGEMENT
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. ProEquity’s goal is to provide a superior road map and resources that will allow our clients to best understand market dynamics and proactively position their assets for exceptional results in a competitive marketplace.