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Vestar Snags Petaluma Retail Center for $55M

Phoenix-based Vestar purchased East Washington Place, a more than 340,000-square-foot shopping center in Petaluma, CA from Regency Petaluma LLC, an affiliate of Jacksonville, FL-based Regency Centers for $55 million. The acquisition pushes Vestar’s portfolio past the 30-million-square-foot threshold.

Vestar’s Jeff Axtell says, “We have a unique track record of redefining retail spaces and the role they play in the communities that surround them, and we’re truly invested in the success of our neighborhood and the city as a whole.”

The center is located at 401 Kennilworth Dr., at the intersection of East Washington Street and Highway 101, roughly 40 miles north of San Francisco. Developed by Regency Centers, East Washington Place is LEED Silver-Certified and anchored by Target, TJ Maxx/Homegoods, Sprouts, ULTA, Dick’s Sporting Goods, and PetSmart.

Eastdil Secured represented the seller, while Vestar was self-represented.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition