DRA Advisors and CenterCal Acquire Fig Garden Village in Fresno, California

Iconic Central California Shopping Center Joins Joint Venture Portfolio

EL SEGUNDO, Calif., May 12, 2025 /PRNewswire/ -- CenterCal, in partnership with DRA Advisors, is proud to announce the acquisition of Fig Garden Village, a premier open-air retail destination located in Fresno, California. The transaction officially closed on May 9, 2025, marking a strategic addition to the joint venture's expanding portfolio of high-performing retail properties.

Encompassing nearly 300,000 square feet, Fig Garden Village stands out for its strong community presence, exceptional tenant mix, and prime location. The center is home to a dynamic collection of national, regional, and local retailers - including the market's only Pottery Barn, Williams Sonoma, and Banana Republic — alongside other prominent names like lululemon, Whole Foods Market, Anthropologie, Madewell, and Paper Source.

Looking ahead, CenterCal and DRA Advisors are committed to building upon Fig Garden Village's strong foundation. The partnership will focus on thoughtful reinvestment in the property, with plans to enhance the customer experience, introduce new vibrant retail and dining offerings, and preserve the center's unique charm and architectural character.

"This acquisition represents more than a strategic investment — it's an opportunity to enrich a beloved community destination," said Jean Paul Wardy, CEO of CenterCal Properties. "Together with DRA Advisors, we plan to elevate the experience at Fig Garden Village, while honoring its deep roots in the community."

Originally developed as part of the historic Fig Garden residential area, in one of the most densely populated and affluent neighborhoods in the region, Fig Garden Village is a recognized gathering place for the community, drawing consistent foot traffic and serving as a retail anchor for the broader Central California market.

"Fig Garden Village is an exciting acquisition, and we're thrilled to partner with CenterCal to enhance and revitalize this iconic property," said Dan Goldman, Head of West Coast Operations at DRA Advisors. "Together, we plan to introduce dynamic new tenants, upgrade key amenities, and ensure the center continues to be a vibrant and welcoming destination for the Fresno community."

About DRA Advisors
DRA Advisors LLC is a New York-based registered investment advisor with approximately 100 employees that specializes in real estate investment management services for institutional and private investors including pension funds, university endowments, sovereign wealth funds, foundations, and insurance companies.  Since DRA's inception in 1986, the firm has opened additional offices in Miami and San Francisco and has acquired over $41 billion of real estate.  Its acquisitions include 100 million square feet of industrial, 86,500 multifamily units, 89 million square feet of retail, and 65 million square feet of office.  As of December 31, 2024, DRA had $11.1 billion in gross assets under management. http://draadvisors.com

About CenterCal
CenterCal, a premier full-service commercial real estate company founded in 2004, is redefining the landscape of the western U.S. With a focus on community-building, the company creates spaces that foster connection, enjoyment, and a sense of belonging. Under the visionary leadership of Founder Jean Paul Wardy, CenterCal has become synonymous with excellence and innovation, boasting a portfolio of iconic destinations across California, Idaho, Oregon, Utah and Washington. Rooted in core values that include creative persistence, uplifting communities and creating magical places, CenterCal specializes in the investment, development, leasing and management of high-quality retail and mixed-use development from its headquarters in Costa Mesa, Calif. More information, including a full property portfolio, is available at www.centercal.com.

Sandra Rollinson
CenterCal Properties, LLC
503.749.7110
[email protected]

SOURCE CenterCal Properties, LLC