News Feed Item

Pacific Castle Acquires Four Sacramento Area Properties for $40 Million

Strategically Located, High-Quality Assets Are Expected to Contribute to Company's Long-Term Growth

IRVINE, CA and SACRAMENTO, CA -- (Marketwired) -- 07/14/14 -- Pacific Castle, a premier owner and operator of retail shopping centers in the West Coast, has recently acquired four properties for approximately $40 million in the Sacramento area. The opportunistic purchase of the Sacramento region assets signals the continued trend of the company to add to its diversified portfolio.

"We have had a presence in Sacramento for the last decade and as the economy continues to recover, we could see ourselves invested in the region for years to come," said Rod Astarabadi, president of Pacific Castle. "Despite the high competition for these properties, we were well-positioned to quickly complete the transactions at a substantial pricing discount. Augmenting our portfolio with the high-quality strategic Sacramento locations enables us to leverage our experience and economies of scale to upgrade the tenant mix, improve the occupancy and provide for long-term growth."

Over the last few months, Pacific Castle acquired the following four properties: Waterman Grove Plaza in Elk Grove, CA; Willow Creek Town Center in Folsom, CA; Zinfandel in Rancho Cordova, CA; and Strawberry Creek in Sacramento, CA. In addition to the recent acquisitions, Pacific Castle also owns the Rancho Cordova Town Center, a power center anchored by a Super Target, which gives the company ownership of more than 327,000 square feet of retail space in the Sacramento region.

Waterman Grove Plaza is located at 9304-9332 Elk Grove Boulevard in Sacramento's Elk Grove Retail submarket. The 44,090-square-foot neighborhood center was constructed in 2006 and is in a dominant east/west commuter route. Major tenants include Panda Express, Subway, T-Mobile and Gamestop.

Situated at 1001-1011 E. Bidwell Street in Folsom, CA, the Willow Creek Town Center is anchored by SaveMart and CVS, as well as several other regional and national tenants. It sits on the high-traffic intersection of Bidwell Street and Blue Ravine. The property's other key tenants include IHOP, Chipotle, Golden One Credit Union, Wingstop and Anytime Fitness.

The 39,737-square-foot Zinfandel, located at 2817-2863 Zinfandel Drive in Rancho Cordova, CA, will undergo a major renovation in order to reposition the property.

Strawberry Creek is another Super Target-anchored center located at 8211-8251 Bruceville Road in Sacramento, CA, at the intersection of Highway 99 and Cosumnes River Boulevard. Due to the high visibility of the shopping center, it has notable tenants such as Panda Express, Subway, UFC Gym, Starbucks, Comcast and others.

About Pacific Castle
With more than $500 million in assets, Pacific Castle is a premier owner and operator of shopping centers in the Western United States. The company prides itself on consistently generating solid returns and creating value by successfully executing its investment strategies. In addition, the company has another strategy of acquiring ethnic retail properties.

Founded in 1993 on the values of honor, trust and integrity to develop win-win relationships through all its dealings, Pacific Castle has grown steadily, adding Class-A retail properties, team members and a large pool of investors as company assets. For more information, please visit www.pacificcastle.com.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2638336

Rebecca Hall | Brigitta Bokor
714-263-8724 | 714-263-8743
[email protected] | [email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
@DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises - and delivering real results.
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
"We started a Master of Science in business analytics - that's the hot topic. We serve the business community around San Francisco so we educate the working professionals and this is where they all want to be," explained Judy Lee, Associate Professor and Department Chair at Golden Gate University, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
DXWorldEXPO LLC announced today that Dez Blanchfield joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Dez is a strategic leader in business and digital transformation with 25 years of experience in the IT and telecommunications industries developing strategies and implementing business initiatives. He has a breadth of expertise spanning technologies such as cloud computing, big data and analytics, cognitive computing, m...
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...
Daniel Jones is CTO of EngineerBetter, helping enterprises deliver value faster. Previously he was an IT consultant, indie video games developer, head of web development in the finance sector, and an award-winning martial artist. Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams.
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.