Santa Rosa, CA
Preserve West Capital acquired vacant bank building from Wells Fargo Bank located across the street from Coddington Mall which is anchored by Whole Foods, Macy’s, and Target. Coddington Mall had planned a major renovation of the center prior to the purchase of the property that included new tenants, Whole Foods, Target, BJ’s, Panera Bread, and Chipotle, among others. The property underwent a major renovation and was leased to a strong regional tenant, Sleep Train, on a long-term net lease. Sleep Train was subsequently purchased by the national retail chain Mattress Firm. This is a long term asset as it is strategically located and would be easily re-tenanted.