#United States #Fresno #DRA Advisors #CenterCal #Fig Garden

Fig Garden Village: A New Era

On May 9, 2025, DRA Advisors and CenterCal jointly closed the acquisition of Fig Garden Village, an iconic retail destination in Fresno, California. This exciting development marks a pivotal moment for both companies as they aim to rejuvenate the shopping center, which embodies a significant part of the local community. With nearly 300,000 square feet of retail space, Fig Garden Village is already home to notable stores such as Pottery Barn, Williams Sonoma, and Banana Republic, as well as popular options like Whole Foods Market and lululemon.

As the new owners, DRA Advisors and CenterCal are set to build on the strong foundation established by Fig Garden Village. The focus will be on reinvestment and ensuring that the shopping experience continues to excel amid evolving consumer preferences. This includes introducing fresh dining and retail options that cater to the community's needs while preserving the center's unique charm that has made it a beloved gathering spot.

A Community Hub

Originally developed as part of the historic Fig Garden residential area, the shopping center serves not only as a retail hub but also as a gathering place for community members. Over the years, it has built a reputation for its welcoming atmosphere and diverse lineup of stores and services. The acquisition by DRA Advisors and CenterCal will ensure that Fig Garden Village remains at the heart of the community by strengthening its role as a retail anchor within Central California's market.

Jean Paul Wardy, CEO of CenterCal Properties, expressed excitement about this acquisition, recognizing it as a significant investment in the community’s social fabric. “This acquisition represents more than a strategic investment — it's an opportunity to enrich a beloved community destination,” Wardy stated. “We intend to elevate the experience at Fig Garden Village while maintaining its deep-rooted presence.”

Vision for Improvement

The new management team has ambitious plans to improve the shopping experience at Fig Garden Village. Their strategy includes enhancing key amenities, introducing dynamic new tenants, and creating a vibrant dining scene that not only attracts local shoppers but also draws visitors from surrounding areas. The goal is to maintain the picturesque ambiance that residents cherish, while simultaneously modernizing elements to keep pace with retail trends.

Dan Goldman, the Head of West Coast Operations at DRA Advisors, echoed a shared enthusiasm for the project. “Fig Garden Village is an exciting acquisition, and we're thrilled to partner with CenterCal to enhance and revitalize this iconic property,” he remarked. The partnership has laid the groundwork for uplifting the shopping center's experience and contributions to the local economy.

About the Companies

DRA Advisors, founded in 1986, is a New York-based investment advisory firm known for its expertise in real estate investment management, boasting a portfolio that exceeds $41 billion. With offices in Miami and San Francisco, DRA specializes in commercial real estate, catering to various institutional investors.

CenterCal, established in 2004, is recognized for reshaping western U.S. retail landscapes by focusing on community engagement and innovative spaces. With a mission centered on enhancing connections within communities, CenterCal is committed to investing in and developing retail environments that create a sense of belonging.

Ultimately, the partnership between DRA Advisors and CenterCal signifies a renewed commitment to Fig Garden Village, promising to strengthen its community ties, enhance customer experiences, and ensure its sustainability as a premier shopping destination in Fresno.

As this transformation unfolds, both companies are optimistic about Fig Garden Village’s future and its continued role as a centerpiece of retail and community life.