Fair Oaks-based Petrovich Development Co. has obtained a $26.5 million loan for the second phase of development of the Woodland Gateway retail center in Woodland.
The loan was provided by PCCP LLC, formerly known as Pacific Coast Capital Partners, which has offices in Sacramento, San Francisco and El Segundo.
Target and Costco opened earlier this year at 525,000-square-foot Woodland Gateway complex. The second phase of development includes 116,000 square feet and will include tenants Best Buy, Michaels arts/crafts, Pet Extreme, In-N-Out Burger and Famous Footwear.
Construction of the second phase already has begun near the intersection of Interstate 5 and Highway 102.
"Woodland Gateway is situated in an underserved retail market," said James Nearon, PCCP vice president. "We see Woodland Gateway as a quality development that will help meet the demand in the area as well as in nearby communities such as the City of Davis."
Call The Bee's Mark Glover, (916) 321-1184.
