V
estar, 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 services for its newly acquired retail portfolio in Southern California. The portfolio consists of five grocery-anchored shopping destinations with over 600,000 square feet of high-performing space, boasting occupancy rates exceeding 98%.

    The properties include River Oaks Shopping Center in Santa Clarita, Campus Marketplace in San Marcos, The Pavilion at La Quinta in La Quinta, Bear Creek Village in Wildomar, and Old Grove Marketplace in Oceanside. These centers are strategically positioned to serve dense residential areas, including California State University San Marcos and the rapidly growing Southwest Riverside County submarket.

    "Nuveen Real Estate is a globally respected leader in the industry, and we're proud to be chosen for this significant management assignment," said Patrick McGinley, President of Management Services for Vestar. "We'll bring our full suite of management services to help drive growth for these exceptional assets."

    The addition of these five properties brings Vestar's Southern California footprint to over 8.5 million square feet, solidifying its position as a nationally recognized leader in the acquisition, development, and operation of high-quality retail destinations. With over 35 years of success in the retail real estate industry, Vestar continues to deliver long-term value by attracting new consumers, maximizing occupancy, and adapting to evolving market needs.