Lakeport Associates Buys 10-Acre Shopping Center for $10.7 Mil

WOODLAND, CA-Menlo Park developer buys 111,000-sf Westgate Shopping Center from Calabasas-based Westrust.

By Christina Chanes Nystrom | April 30, 2001 at 01:01 AM

The 10-acre shopping center is anchored by a Raley's Super Store and Jo-Ann's Fabrics. The center also has a Mountain Mike's Pizza, a video store and healthcare offices.

According to Marcus & Millichap's latest reports, the Woodland shopping center has a 93% occupancy and average rents of $12 to $15 per sf per year. Woodland has experienced a population boom in the past 10 years, and the population growth has been more than 8.3% in that time, says Marcus & Millichap.

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