1001 Helen Power Dr, Vacaville, CA, 95687-3507, US

Power Plaza

Asset Description

Jones Lang LaSalle (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in Power Plaza (the “Property”), a 112,250 square foot, grocery-anchored neighborhood center located in Vacaville, California.

Anchored by best-in-class grocer, Sprouts Farmers Market, Power Plaza is 99% leased to a diverse roster of national and credit tenants including Restoration Hardware and Williams Sonoma. The Property is centrally located within the regionally-drawing Vacaville Retail Corridor and boasts excellent visibility along Interstate 80, which sees more than 175,000 vehicles per day. Power Plaza offers an exceptionally rare opportunity to acquire one of Northern California’s premier grocery-anchored retail assets.

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Attributes

Building area Gross

10,428 m²

Occupancy

99.00%

Year built

1993

Media

Investment Highlights

Rare grocery-anchored neighborhood center
- Power Plaza is anchored by Sprouts Farmers Market, one of the largest and fastest growing speciality retailers of fresh, natural, and organic food with 31,000 employees and 380 stores across 23 states.
Central location within a regionally-drawing trade area
- Located at the center of the Vacaville Retail Corridor between Nut Tree Plaza, Vacaville Premium Outlets, Walmart Supercenter, and Sam's Club, the Property benefits from regionally-drawing tenancy in every direction.
Excellent visibility along an active thoroughfare
- With over 600 linear feet of frontage along Nut Tree Parkway, Power Plaza is directly visible to the 175,000 vehicles that travel Interstate 80 each day plus an additional 30,000 vehicles that visit the intersection of Nut Tree Parkway with Helen Power Drive.
Robust market fundamentals
- Power Plaza sits within the highly desirable Vacaville retail submarket, which has a vacancy rate of only 2.3% and has seen tremendous market rent growth of 3.2% over the past 12 months.
Diverse tenant mix with strong leasing momentum
- The Property boasts best-in class national and credit tenants including Sprouts Farmers Market, Restoration Hardware, and Williams Sonoma and has recently signed multiple new leases including Banfield Pet, Good Feet, and Vy's Beauty Lounge.
Over $4.3 million in recent capital improvements
- Over the past 4 years, current ownership has invested more than $4.3 million into building out tenant improvements, replacing HVAC units, resurfacing roofs, upgrading lighting, restriping the parking lot, and other capital improvements.