Pacific Castle, an Irvine-based owner and operator of West Coast shopping centers, said it has acquired four Sacramento-area retail properties for approximately $40 million.
The company said it recently closed transactions on Strawberry Creek Shopping Center on Bruceville Road in Sacramento, Waterman Grove Plaza on Elk Grove Boulevard in Elk Grove, Willow Creek Town Center on East Bidwell Street in Folsom and the Zinfandel Shopping Center on Zinfandel Drive in Rancho Cordova.
Pacific officials noted that the nearly 40,000-square-foot Zinfandel center will undergo a major renovation and be renamed Zinfandel Village.
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, Rod Astarabadi, president of Pacific Castle, said in a statement.
In addition to the recent acquisitions, Pacific Castle also owns the Rancho Cordova Town Center on Olson Drive in Rancho Cordova. The company said its Sacramento regional portfolio now comprises about 327,000 square feet of retail space.
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