Petaluma Town Plaza trades hands for $7.3M
JLL Capital Markets facilitates the off-market sale of a value-add retail strip center in Northern California
SAN FRANCISCO, Dec. 13, 2024 – JLL Capital Markets announced today that it has successfully arranged the $7.3 million sale of Petaluma Town Plaza, a 26,699-square-foot strip center in Petaluma, California.
JLL represented the seller, a private entity. The buyer was Crow Holdings Capital.
Petaluma Town Plaza, situated at 901 and 905 E Washington St., offers convenient access just off U.S.-101 on one of Petaluma’s major thoroughfares. This shopping center's strategic location near downtown Petaluma and the surrounding residential areas makes it a central hub for daily needs shoppers.
Built in 1991 on a 0.83-acre site, Petaluma Town Plaza features a diverse tenant mix including FedEx, Sherwin Williams, St. Joseph Health, Posh Nails and SalonCentric. Currently 64% leased, the property presents significant upside potential through strategic lease up and the opportunity to reposition its vacant end caps.
JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Director Warren McClean and Managing Director Eric Kathrein.
"Petaluma Town Plaza presented a tremendous opportunity to acquire a strip center with attractive value-add opportunities in a growing market," said McClean. "The transaction demonstrates the continued strength of investor interest in unanchored retail assets with upside potential in strong suburban markets like Petaluma."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Crow Holdings Capital
Crow Holdings Capital, a privately owned real estate investment and development firm, boasts a rich 75-year legacy and $33 billion in assets under management. Founded by industry icon Trammell Crow, the company maintains its original vision of partnership, camaraderie and integrity while demonstrating strong performance across various strategies and market cycles.