{"id":406835,"date":"2026-07-21T18:23:09","date_gmt":"2026-07-21T18:23:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/406835\/"},"modified":"2026-07-21T18:23:09","modified_gmt":"2026-07-21T18:23:09","slug":"cedar-tree-village-shopping-center-sells-for-20-85m-in-fresno","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/406835\/","title":{"rendered":"Cedar Tree Village shopping center sells for $20.85M in Fresno"},"content":{"rendered":"\n<p>\t\t\t\t\t\t<img width=\"1140\" height=\"462\" src=\"https:\/\/www.newsbeep.com\/us-ca\/wp-content\/uploads\/2026\/07\/Cedar-Tree.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"shopping center\" decoding=\"async\" fetchpriority=\"high\"  \/>\t\t\t\t\t\t<\/p>\n<p class=\"attach_desc\">Cedar Tree Village Shopping Center is located at Herndon and Cedar avenues in Fresno. The Visintainer Group took several offers on the property, selling in July 2026 for $20.85 million. Visintainer image<\/p>\n<p>After drawing interest from investors across the Golden State, Cedar Tree Village Shopping Center has sold for $20.85 million, hitting its asking price and marking one of the Central Valley\u2019s largest investment transactions of 2026.<\/p>\n<p>The 118,417 square-foot grocery-anchored shopping center at Herndon and Cedar avenues closed July 16. Cedar Tree Village LLC sold the property to Irvine-based Pacific Castle PM Inc. after more than 40 years of ownership by the original development family.\u00a0<\/p>\n<p>Visintainer Group\u2019s Brett Visintainer and John Kourafas represented the seller. The property received seven qualified offers during a competitive marketing process, according to Visintainer Group.\u00a0<\/p>\n<p>When <a href=\"https:\/\/thebusinessjournal.com\/after-four-decades-original-developers-list-prominent-fresno-retail-center-for-21m\/\" target=\"_blank\" rel=\"noopener nofollow\">Cedar Tree Village hit the market in February<\/a>, Kourafas told The Business Journal its location near Saint Agnes and Fresno State, combined with a 96.3% occupancy rate and a tenant mix anchored by R-N Market, made it attractive to both local and out of area investors.\u00a0<\/p>\n<p>He predicted heavy interest from Bay Area and Southern California buyers.<\/p>\n<p>The center also secured long-term lease extensions with McDonald\u2019s, R-N Market and Dollar Tree, while completing parking lot improvements in 2025.<\/p>\n<p>Jonathan Chang, director of investments for Pacific Castle, said the acquisition also carries a personal connection with the company\u2019s president, Rod Astarabadi, a Fresno State alumnus. Fresno State is less than two miles from the shopping center.<\/p>\n<p>According to CoStar, the transaction ranks as the Central Valley\u2019s second-largest retail investment sale of 2026 behind northeast Fresno\u2019s Riverview Shopping Center, and achieved the region\u2019s lowest cap rate among sales of stabilized shopping centers valued at more than $10 million.\u00a0\u00a0<\/p>\n<p>\t\t\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Cedar Tree Village Shopping Center is located at Herndon and Cedar avenues in Fresno. The Visintainer Group took&hellip;\n","protected":false},"author":2,"featured_media":406836,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[163099,3010,112,114,113,1075,12092,126913],"class_list":["post-406835","post","type-post","status-publish","format-standard","has-post-thumbnail","category-fresno","tag-cedar-tree-village","tag-commercial-real-estate","tag-fresno","tag-fresno-headlines","tag-fresno-news","tag-northwest-fresno","tag-shopping-center","tag-visintainer-group"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/406835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=406835"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/406835\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/406836"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=406835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=406835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=406835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}