Energy Plaza is positioned close to Interstate 80. Picture courtesy of JLL
DPI Retail has acquired Energy Plaza, a 112,250-square-foot retail heart in Vacaville, Calif., for $29.2 million. JLL represented the vendor, ProEquity Asset Administration, within the transaction.
Situated at 1001-1071 Helen Energy Drive, on the intersection of Nut Tree Parkway and Helen Energy Drive, the grocery-anchored property is throughout the Vacaville retail hall alongside Interstate 80, near Vacaville Premium Shops and the Costco Wholesale retailer. The car rely alongside that part of the interstate is greater than 175,000 every day, whereas the inhabitants inside a 15-minute drive consists of 177,440 residents, with a median family revenue exceeding $100,000.
Inbuilt 1993 and 1994, Energy Plaza is sort of one hundred pc leased, with Sprouts as its anchor tenant. Different tenants embody Restoration {Hardware} Outlet and Williams Sonoma Residence Outlet. Moreover, Pacific Dental Companies, The Good Ft Retailer and Banfield Pet Hospital not too long ago signed new leases. The typical lease time period on the property is 6.5 years.
Managing Director Eric Kathrein, Administrators Tim Kuruzar and Warren McClean, together with Analyst Andy Spangenberg have been a part of JLL’s group that labored on behalf of ProEquity Asset Administration. In one other latest transaction, JLL represented the vendor of Eastchase Market, a 261,730-square-foot retail heart in Fort Value, Texas.
