Vestar. a 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 in San Marcos, The Pavilion at La Quinta in La Quinta, River Oaks Shopping Center in Santa Clarita, Bear Creek Village in Wildomar and Old Grove Marketplace in Oceanside.
“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 in Tustin, Long Beach Towne Center in Long Beach, Peninsula Center in Rolling Hills Estates and Rancho San Diego Towne Center in San Diego.
