Matthews Real Estate Investment Services has recently listed the Mary’s Vineyard shopping center in Visalia, located at 1305-1699 E. Noble Ave. This property spans over 162,985 square feet and is being represented by associate Carter Hamilton and senior director Matt LoPiccolo.
Currently boasting an impressive occupancy rate of 86%, Mary’s Vineyard features a variety of anchor tenants such as Save Mart Supermarket, Starbucks, McDonald’s and CVS Pharmacy. The land has been owned by the same family since 1920 when it was their original homestead.
Built in 1989, this center has been operated as a family business for several years until the owners made the decision to sell and take advantage of increasing investor interest. According to LoPiccolo, Visalia is experiencing rapid growth with new developments attracting large workforces to the area. Despite fluctuating interest rates across markets nationwide, retail remains strong in places like Visalia where competitive transaction activity can be observed.
The article “Matthews Lists Family-Owned Visalia Shopping Center” originally appeared on Connect CRE.
