The longstanding retail experts will oversee management for five grocery-anchored shopping and lifestyle destinations
Vestar, a leading privately held owner and operator of open-air shopping centers in the western United States, has been engaged by Nuveen Real Estate to provide property management, strategic leasing oversight, marketing and construction management services for its newly acquired retail portfolio in Southern California. The grocery-anchored portfolio consists of over 600,000 square feet of high-performing shopping centers with occupancy rates exceeding 98%.
The portfolio includes:
- Campus Marketplace – San Marcos, CA
Located in one of North County’s most established trade areas, this community center is anchored by Ralphs and CVS and serves a dense residential base including California State University San Marcos. - The Pavilion at La Quinta – La Quinta, CA
A key retail destination in the Coachella Valley, anchored by Sprouts Farmers Market and Best Buy. - River Oaks Shopping Center – Santa Clarita, CA
A regional shopping center drawing consistent foot traffic, with anchors including Target, Sprouts, Total Wine and More and ULTA. - Bear Creek Village – Wildomar, CA
This local shopping center is strategically positioned near I-15 and anchored by Stater Bros., serving the rapidly growing Southwest Riverside County submarket. - Old Grove Marketplace – Oceanside, CA
A well-established community center in Oceanside, anchored by Ralphs and Lowe’s.
“Nuveen Real Estate is a globally respected leader in the industry and we are proud to be chosen for this significant management assignment,” said Patrick McGinley, President of Management Services for Vestar. “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.”
The addition of these five properties brings Vestar’s Southern California footprint to more than 8.5 million square feet, including The District at Tustin Legacy (Tustin, CA), Long Beach Towne Center (Long Beach, CA), Peninsula Center (Rolling Hills Estates, CA), and Rancho San Diego Towne Center (San Diego, CA).
With over 35 years of success in the retail real estate industry, Vestar continues to deliver long-term value to the properties it manages by attracting new consumers, maximizing occupancy and adapting to evolving market needs.
