Fig Garden Village Undergoes Ownership Change with DRA Advisors & CenterCal
Deal News | May 12, 2025 | Centercal Properties LLC
Fig Garden Village, one of Fresno's most historic shopping centers, has been sold to new owners. The acquiring entities are DRA Advisors, a New York-based investment advisory firm, and CenterCal Properties LLC, a full-service commercial real estate company based in Costa Mesa, California. Both firms have plans for upgrades and expansion at the shopping center, signaling a rejuvenation effort aimed at increasing tenant participation and enhancing the shopping experience. This transaction signifies a strategy by the new owners to invest in and improve the commercial real estate market in Fresno.
Sectors
- Commercial Real Estate
- Investment Advisory
Geography
- United States – The acquisition took place in Fresno, California, and involved companies based in New York and Costa Mesa, California.
- California – Fig Garden Village, the target property, is located in Fresno, California, and one of the acquiring firms, CenterCal, is based in Costa Mesa, California.
Industry
- Commercial Real Estate – The article discusses the acquisition of a shopping center, an integral part of the commercial real estate sector involving ownership and management of retail estates.
- Investment Advisory – Involves DRA Advisors, a firm specializing in investment in real-estate domains, indicating their advisory role in commercial property deals.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fig Garden Village | Target Company | Company | One of Fresno's oldest shopping centers recently acquired by new investment firms. |
| DRA Advisors | Bidding Company | Company | A New York-based investment advisory firm involved in the acquisition of Fig Garden Village. |
| CenterCal Properties LLC | Bidding Company | Company | A commercial real estate company based in Costa Mesa, California, specializing in the development and management of retail and commercial properties. |