SAN RAFAEL, CA – LRE & Companies, a real estate development, asset manager, construction, and hotel management company, has revealed the plans for University Square, a 10-acre mixed-use development project at the intersection of Sunset Boulevard and University Avenue in Rocklin, CA. With retail and hospitality components, University Square is the developer’s first project in the city but second in Placer County. The project is slated to be completed by year-end 2025.

University Square is another example of us following through with our approach of developing at dynamic intersections in growing markets we have identified over the years as a developer on the West Coast. We are proud to be a part of Rocklin’s ongoing development and committed to driving growth and progress in the community with this mixed-used development, offering a range of retail and hospitality options for residents and travelers. Akki Patel, CEO of LRE & Companies

University Square will have more than 20,000 square feet of retail space and 5,000 square feet of space for quick service restaurant (QSRs) with drive-thrus; a 123-room Hilton Garden Inn; a 10,000 square-foot daycare center; a 3,700-square-foot convenience store; and a car wash. The site is adjacent to Estia Rocklin, a build-to-rent townhome community with 181 units, and across the street from William Jessup University, a private Christian university with more than 3,000 students.

The project is just east of the 8,497-acre Sunset Area development. The Sunset Area plan is centered around a new California State University, Sacramento and Sierra College campus.

This part of Rocklin is seeing tremendous growth. By prioritizing smart growth and responsible development practices, we can create something special that will stand the test of time. We are honored to be involved in shaping the future of the Rocklin community. Victor Chiang, VP of development at LRE & Companies

Rocklin is home to Quarry Park, the city’s downtown community gathering space, offering rock climbing, paddle boats, and ziplining; more than 380 acres of open space, walking trails, and parks; and two higher education institutions: Sierra College and William Jessup University. The city also has panoramic views of the Sierra Nevada and Sutter-Butte mountain ranges. Rocklin is within a 20-minute drive of Folsom Lake, a 30-minute drive of downtown and Old Sacramento, and less than a two-hour drive from Lake Tahoe, the Pacific Ocean, and San Francisco.

Most of the area’s major employers, including Oracle, UNFI, K-LOVE, and Thunder Valley Casino, are within a two-mile radius of the project.

The project is less than seven miles from another one of LRE & Companies’ commercial development projects. Announced in November 2022, Roseville Junction, a new mixed-use development project in Roseville, CA, will have two select-service hotels, three restaurants, an outdoor gathering space, and an entertainment and sports complex once completed.

About LRE & Companies

The LRE & Co. is a family organization in real estate development, construction, and food and beverage businesses since 1999. It has been present in major markets throughout northern California and northwest Nevada. It is an ever-growing organization consisting of a group of diverse and dynamic people who strive for excellence. LRE & Co. & affiliates’ food and beverage arm comprise franchise restaurants and master development agreements for national franchises. The commercial real estate arm comprises investments in commercial land space and partnerships with major fast casual/QSR brands, Marriott, Hilton & Hyatt groups of hotels. LRE & Co. has a diverse portfolio of office buildings, retail properties, multi-family holdings as well as hospitality. Over the last 15 years, LRE & Co. has leveraged its experience in the real estate space, leading to the inception of the real estate Investment and development arm of the company. Several projects are underway or completed in a very short span due to prior knowledge of the commercial space, including AC by Marriott in Sacramento downtown, Courtyard by Marriott in Woodland, H2 Suites by Hilton & multi-family development in Sacramento.

LRE & Companies, a real estate development, asset manager, construction and hotel management company, has revealed plans for University Square, a 10-acre mixed-use development project at the intersection of Sunset Blvd. and University Ave. in Rocklin, CA.

With retail and hospitality components, University Square is the developer’s first project in the city, but second in Placer County. The project is slated to be completed by year-end 2025.

“University Square is another example of us following through with our approach of developing at dynamic intersections in growing markets we have identified over the years as a developer on the West Coast,” said Akki Patel, CEO, LRE & Companies. “We are proud to be a part of Rocklin’s ongoing development and committed to driving growth and progress in the community with this mixed-used development, offering a range of retail and hospitality options for residents and travelers.”

University Square will have more than 20,000 sq. ft. of retail space and 5,000 sq. ft. of space for quick service restaurant (QSRs) with drive-thrus; a 123-room Hilton Garden Inn; a 10,000 sq.-ft. daycare center; a 3,700-sq.-ft. convenience store; and a car wash. The site is adjacent to Estia Rocklin, a build-to-rent townhome community with 181 units, and across the street from William Jessup University, a private Christian university with more than 3,000 students.

The project is just east of the 8,497-acre Sunset Area development. The Sunset Area plan is centered around a new California State University, Sacramento and Sierra College campus.

“This part of Rocklin is seeing tremendous growth,” said Victor Chiang, VP, development, LRE & Companies. “By prioritizing smart growth and responsible development practices, we can create something special that will stand the test of time. We are honored to be involved in shaping the future of the Rocklin community.”

Rocklin is home to Quarry Park, the city’s downtown community gathering space, offering rock climbing, paddle boats and ziplining; more than 380 acres of open space, walking trails and parks; and two higher education institutions: Sierra College and William Jessup University. The city also has panoramic views of the Sierra Nevada and Sutter-Butte mountain ranges. Rocklin is within a 20-minute drive of Folsom Lake, a 30-minute drive of downtown and Old Sacramento and less than a two-hour drive from Lake Tahoe, the Pacific Ocean and San Francisco.

Most of the area’s major employers, including Oracle, UNFI, K-LOVE and Thunder Valley Casino, are within a two-mile radius of the project.

The project is less than seven miles from another one of LRE & Companies’ commercial development projects. Announced in November 2022, Roseville Junction, a new mixed-use development project in Roseville, CA, will have two select-service hotels, three restaurants, an outdoor gathering space and an entertainment and sports complex once completed.

LRE & Companies has unveiled plans for Fernley Promenade, a 13-acre mixed-used development project comprising of industrial, retail and hotel, in Fernley, NV

Fernley Promenade will have a 98-room hotel, three quick-service restaurants, three large junior anchors, and 16,000 square-feet of shop space. An extended-stay lodging facility, the four-story Home2 Suites at Fernley Promenade will have a swimming pool, fitness center, guest laundry room, breakfast room, and sundries shop. LRE & Companies is in the process

1. A new mixed-use development project will be adding a hotel,restaurants, retail and industrial space to Fernley just east of Reno-Sparks.The Fernley Promenade project, on 13 acres south of Interstate 80,will be betweena Walmart Supercenter and Lowe’s HomeImprovement store on Stanley Drive.More: Fernleyto get 4,300-acre industrial park after 2nd biggest landsale in Nevada history Scheduled to be completed by the end of 2024, Fernley Promenade isthe first project in Northern Nevada by San Rafael, California-basedLRE & Cos. The real estate company hasexperience developingproperties in northern California and western Nevada.
2. 

   The company cited Fernley’s demographics and location for itsdecision to develop Fernley Promenade.The city is 20 minutes away from the Tahoe Reno Industrial Center,site of Tesla’s first Gigafactory.Fernley itself is thesite of the Victory Logistics District, which, at4,300 acres, was the second largest land sale in Nevada history when itclosed in 2019. Only Blockchains’ 65,000-acre purchase at the TahoeReno Industrial Center in 2018 is bigger.Add Nevada’s business-friendly environment and access to I-80 andtwo rail lines that connect to the port of Oakland and the decision is ano-brainer, according to CEO Akki Patel.
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   “Fernley is a natural area of growth,” Patel said. “All the cropped-upbusinesses surrounding the Gigafactory, such as Redwood Materials,are also very convenient.”The first confirmed development is the 98-room Home2 Suites atFernley Promenade, an extended stay hotel with swimming pool,fitness center and other amenities.“After the pandemic, there is a huge demand for extended-stay hotels,”Patel said. “It also helps with the customer base who is staying fromMonday to Friday working at these distribution facilities.”The Fernley Promenade also will have a shopping center, and LRE isfinalizing three large junior anchor tenants.Dining will also feature prominently on the site, according to Patel.
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   “Restaurants will be a combination of national brands and local fare,”Patel said. “We have lots of interest from national quick service andfast casual brands.”Development of the Fernley Promenade is gearing up at a time whenthe economy has gone through ahistoric pandemic and also facingrumblings about a potential recession this year. Patel, however,expressed confidence in the project moving forward.Coroner identifies all five victims in crash near Salton SeaOxnard’s top finance officer to depart afterless than 2 yearsRoad closures in Flagstaff, Grand Canyon as winter storm passes through ArizonaHowto view rare green comet’s fly by in the High DesertInvestigation underway after human remains foundon UC Berkeley campus
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   The company is “cautiously optimistic that our tenant mix wouldbenefit from a downturn,” according to Patel.Patel also believes that the project can weather any challenges arisingfrom COVID should it make a comeback.“Fernley Promenade was already designed as an open-air shoppingcenter,” Patel said.“We have not had to make any changes due to COVID, and we wouldhave great potential to provide outdoor seating should the need arise.”

The largest retail shopping center to be built in more than a decade in Fernley is underway.

There have been some big box retail buildings constructed in Fernley over the past decade, but Fernley Promenade is the first large-scale retail center with multiple junior anchors, drive-through eateries and an extended-stay hotel. Privately held LRE & Companies of San Rafael, Calif. is the developer of the 13-acre project that will include:

A 68,000-square-foot Home2 Suites by Hilton. The hotel will have 98 rooms over five floors.

Two 20,000 square foot spaces for junior anchor tenants

16,600 square feet of shop space spread across two buildings for smaller retailers

Three retail spaces totaling 9,500 square feet for quick-serve drive-through eateries

The project will occupy vacant land between Lowe’s and Walmart supercenter with excellent visibility from Interstate 80.

Shawn Smith, executive vice president of the retail team at Reno’s Kidder Mathews office, said Fernley is poised for commercial growth following the development of Victory Logistics District, a 4,300-acre project under development by Mark IV Capital of Newport Beach, Calif. Mark IV has already completed and leased an 815,000-square-foot warehouse and logistics facility to Redwood Materials of Carson City, and work is underway to build and lease the next slate of industrial buildings at the site.

“Retail follows rooftops, and a lot of the industrial boxes were first to lead the development charge in Fernley,” Smith said. “Now other rooftops are catching up, which is creating demand for retail.

“(Fernley’s) residential real estate is doing well, and the jobs are going to be there with the success of the industrial park,” he added. “Mark IV plans to develop millions of square feet of industrial over the years, and that will bring more rooftops and employees and help Fernley increase in population.”

Akki Patel, founder and chief executive officer of LRE & Companies, told NNBW his company acquired the land in 2021. With a lease already signed for the Hilton-branded extended-stay hotel, that building will be the first vertical development at Fernley Promenade.

Patel said the extended-stay Home2 Suites flag made more sense for the hotel than other types of standard overnight hotel brands because many executives visiting the new businesses cropping up in Fernley and nearby Tahoe Reno Industrial Center require longer stays.

“People are coming in for longer periods than one-day, one-night transit,” Patel said. “They need a great place to stay. Home2 is a great-looking product that fits the profile of people who want to stay longer nights and want a kitchenette and a larger room.”

The hotel also provides a captive audience of customers to frequent the new eateries that will be at Fernley Promenade, Patel added. Groundbreaking for the hotel depends on how fast LRE & Companies can get its hotel plans approved, a process that could take several more months, he added.

“We would like to break ground this fall in a perfect scenario,” Patel said. “The whole site is already entitled, and we will parcel out the retail projects. We plan on doing all the site work at the same time and securing the junior anchors before we start marketing the smaller shop spaces.”

Smith told NNBW that the Kidder Mathews retail team is negotiating with several national apparel retailers to lease the two 20,000-square foot junior anchor spaces. Currently, the only place to buy clothing in Fernley is at Walmart.

“Fernley doesn’t have any (clothing retailers), and that’s the draw – they can capture all the market share for Fernley,” Smith said.

Patel said that Victory Logistics District and the Tesla Gigafactory at TRIC have spurred a large influx of people to the region, with Fernley’s population growing as a result, but retail development has lagged.

“Compared to all the growth you have seen (in Reno-Sparks), Fernley is definitely an underserved market,” Patel said. “A lot of people who work at the Tesla Gigafactory have been priced out (of Reno-Sparks) and live in Fernley. It has grown substantially, and those people need some new clothing and restaurant spaces. There’s a need for all of it.”

Fernley may lack many key services, but convincing a certain segment of retailers that the time is right to expand their physical footprint has taken a bit more convincing, Smith noted.

“The national tenants are self-financed and don’t care about construction costs as much as mom and pops and franchisees,” Smith said. “They are still active, but on the other side we are seeing a slowdown in regional and local tenants because construction costs are still high for tenant improvements. They usually pay for that with SBA loans, and with interest rates as high as they are, it is starting to become cost-prohibitive for tenant improvements.”

Rents also are on the rise due to high construction costs, Smith added.

“We are kind of in a perfect storm with high TI dollars, high interest rates, and high rents.”

Patel said that one big challenge with developing commercial real estate in smaller markets is the fact that national site selectors often don’t fully understand the economic strength of smaller regional markets.

“We know what’s happening in Fernley and understand the growth, but a lot of times, national (site selectors) don’t even know where Fernley is until they go there,” he said. “The growth that is happening in northwest Nevada for real. There’s tremendous growth out there, and it will continue to grow. My biggest struggle is how to educate people on what Fernley is. Some national brands have been there for years, but a lot of upcoming brands don’t know about it.”

Kidder Mathews Smith said that as Reno and Sparks continue to grow, tertiary Northern Nevada markets such as Fernley will continue to benefit — especially since housing costs are typically lower than in the Truckee Meadows.

“The more services and shopping that are there, the easier it will be to attract people to move to Fernley,” Smith said. “(Fernley Promenade) will serve existing residents and help attract more. Right now if you want apparel, you have to go to Fallon or Reno. This will help keep money in Fernley, it will create jobs, and it will help the town expand.”

LRE & Companies and American Hospitality Services have announced the featured hotel brands and the name of the Electric Pickle sports and entertainment complex in Roseville Junction, Calif. The new mixed-use development project will have two select-service hotels: Caption by Hyatt Roseville and Hyatt House Roseville.

The Caption by Hyatt Roseville will have 122 guestrooms and suites, a fitness center, meeting facilities and Talk Shop, the reimagined hotel lobby experience that combines an all-day café, a market and a bar with a lounge and social space for guests and locals.

Hyatt House Roseville will be designed for short- or long-terms stays. The hotel will have 126 guestrooms, including studios and one-bedroom suites. Public spaces will include the H Bar, H Market, Outdoor Commons, workout rooms, on-site laundry facilities and a rooftop bar.

“Working with LRE & Companies on this hotel project has been a truly exceptional experience,” Nirav Shah, regional VP of select-service development at Hyatt Hotels Corp., said in a statement. “We are focused on building personal relationships with our owners to ensure that together we can deliver the world-class product and service for which Hyatt is known. We are grateful for the team’s dedication to excellence with these two Hyatt-branded hotels and look forward to a long and successful relationship with LRE & Companies. We can’t wait to introduce the Caption by Hyatt and Hyatt House hotels to the Roseville community.”

The Electric Pickle, the project’s entertainment and sports complex, will have a bocce ball court and 10 pickleball courts. Guests will be able to place food and beverage orders from their phones for any restaurant in the complex and have their food delivered.

The project will also have three restaurants (currently under negotiation) and an outdoor gathering space. LRE & Companies and American Hospitality Services are reviewing letters of intent from regional operators providing elevated F&B offerings.

The site for Roseville Junction is 20 minutes north of Sacramento, Calif., and adjacent to Highway 65 near Interstate 80. It’s also near new retail and shopping amenities, including Roseville Galleria in Roseville, Calif., the second-largest mall in northern California. Roseville is also near many of the area’s vineyards and wineries.

Roseville Junction will include three restaurants, an outdoor gathering space, an entertainment and sports complex and two five-story hotels once completed.

ROSEVILLE, CALIF. — LRE & Cos. and American Hospitality Services have unveiled full plans for Roseville Junction, a new mixed-use development in Roseville. The property will feature two hotels, three restaurants, an entertainment and sports complex and an outdoor gathering space.

Roseville Junction will be built on an 11-acre site that is 20 miles northeast of Sacramento. The site is adjacent to Highway 65 near Interstate 80, and is located nearby many of the area’s vineyards and wineries, as well as new retail and shopping amenities such as the Roseville Galleria. A timeline for completion was not disclosed.

The family- and pet-friendly outdoor gathering space will be called Social Connection and will offer guests a variety of food and beverage options, including craft brewery Fieldwork Brewing Co. The restaurants leases are currently under negotiation.

The project’s entertainment and sports complex, The Electric Pickle, will include a bocce ball court and 10 pickleball courts. The Electric Pickle will also offer food options such as wood-fired pizzas, tacos, burgers and more. Guests will be able to place food and beverage orders through an app and have their food delivered by “food ambassadors” moving throughout the property.

The two five-story, select-service hotels will be Caption by Hyatt Roseville and Hyatt House Roseville. Caption by Hyatt Roseville is set to comprise 122 guest rooms and suites, and will feature a fitness center, digital key access and meeting facilities. The lobby of the hotel, called Talk Shop, includes an all-day café, a market, a bar with a lounge and social spaces for guests and Roseville locals.

Hyatt House Roseville will feature 126 studio and one-bedroom guest suites, as well as a bar, a market, outdoor commons, workout rooms, on-site laundry facilities, complimentary breakfast and a rooftop bar.

“We are grateful for Hyatt’s trust in us and the opportunity to collaborate on projects that make a real difference in the community,” says Akki Patel, CEO of LRE & Cos.

LRE & Cos. is a full-spectrum real estate development, asset management, construction and hotel management company working in Northern California and northwest Nevada. American Hospitality Services is a development and hotel management company based in Sacramento, which is acting as a sponsor, operating partner, and asset manager of strategic commercial real estate assets for the project.

SAN RAFAEL, Calif., Feb. 1, 2023 — LRE & Companies, a full spectrum real estate development, asset manager, construction, and hotel management company, and American Hospitality Services, Inc., a development and hotel management company acting as sponsor, operating partner, and asset manager of strategic commercial real estate assets, have revealed the featured hotel brands and the name of the sports and entertainment complex for Roseville Junction.

The new mixed-use development project in Placer County, CA will be home to two select-service hotels: Caption by Hyatt Roseville and Hyatt House Roseville. Caption by Hyatt is Hyatt’s new lifestyle brand that combines the design and comfort of an upscale, lifestyle-forward hotel with the flexibility of a select-service property, ideal for Roseville Junction. Caption by Hyatt Roseville is set to feature 122 guestrooms and suites, a fitness center, digital key access, meeting facilities, and Talk Shop, the reimagined hotel lobby experience that will feature an on-site F&B space, combining an all-day café, market and bar with a lounge, and social space for guests and locals.

Hyatt House Roseville will be designed to welcome guests seeking spacious and well-equipped living accommodations for short- or long-terms stays. The hotel will feature 126 guestrooms, including studios and one-bedroom suites; public spaces, including H Bar, H Market, and Outdoor Commons; workout rooms; on-site laundry facilities; complimentary home-cooked breakfast; and a rooftop bar, the first of its kind in Roseville.

“We are grateful for Hyatt’s trust in us and the opportunity to collaborate on projects that make a real difference in the community,” said Akki Patel, CEO of LRE & Companies. “Their dedication to creating exceptional guest experiences matches our own, and we are proud to work alongside them on Caption by Hyatt Roseville and Hyatt House Roseville. We look forward to many more years working together and creating future success.”

“Working with LRE & Companies on this hotel project has been a truly exceptional experience,” said Nirav Shah, regional vice president of select service development at Hyatt. “We are focused on building personal relationships with our owners to ensure that together we can deliver the world-class product and service for which Hyatt is known. We are grateful for the team’s dedication to excellence with these two Hyatt-branded hotels and look forward to a long and successful relationship with LRE & Companies. We can’t wait to introduce the Caption by Hyatt and Hyatt House hotels to the Roseville community.”

Named The Electric Pickle, the project’s entertainment and sports complex will have a bocce ball court and 10 pickleball courts. It will also offer comfort food items such as wood-fired Neapolitan pizzas, Mexico City-inspired tacos, burgers, and more. There will also be ordering apps where guests can place food and beverage orders from their phones and have their food delivered by food ambassadors moving throughout the property.

Roseville Junction will also have three restaurants, and an outdoor gathering space. The restaurants are currently under negotiation. To bring the community together in an outdoor gathering space through food and drink, Social Connection will offer a variety of food and beverage options, including Fieldwork Brewing Company, a well-known brewery in Northern California. LRE & Companies and American Hospitality Services are reviewing letters of intent from regional operators providing elevated F&B offerings. Social Connection will offer the most prominent outdoor gathering space for miles and be family and pet friendly to appeal to the small community. It will sit on more than 58,700 square feet.

“Our outdoor, European-style beer gardens are great community gathering spots,” said Barry Braden, co-founder of Fieldwork Brewing Company. “All are family- and dog-friendly, all-season weather-ready, and fun casual environments where you can enjoy fresh beer produced at our Berkeley brewery. Many fans of Fieldwork have asked us for years to come out to Roseville, and the Roseville Junction Beer Garden is the perfect opportunity for us, with its central location adjacent to Westfield Galleria and VillaSport Athletic Club and Spa.”

The site for Roseville Junction is 20 minutes north of Sacramento, CA, and adjacent to Highway 65 near Interstate 80, making it accessible to the entire Placer County region. It’s also near new retail and shopping amenities, including Roseville Galleria in Roseville, CA, the second-largest mall in northern California. Roseville is also near many of the area’s vineyards and wineries.

“With the right partners, Roseville Junction can completely transform a city of 135,000 people,” said Rohit Ranchhod, president and CEO of American Hospitality Services. “Our vision allows Roseville and its neighbors to flourish and thrive along with Roseville Junction. We can build a stronger, more resilient region by coming together and sharing ideas, resources, and support.”

LRE & Companies and American Hospitality Services Inc. have revealed the featured hotel brands and the name of the sports and entertainment complex for Roseville Junction.

The new mixed-use development project in Placer County, CA, will be home to two select-service hotels, Caption by Hyatt Roseville and Hyatt House Roseville. The Caption property is set to feature 122 guestrooms and suites, a fitness center, digital key access, meeting facilities and Talk Shop, the reimagined hotel lobby experience that will feature an on-site F&B space, combining an all-day café, market and bar with a lounge and social space for guests and locals. Hyatt House Roseville will have 126 guestrooms, including studios and one-bedroom suites; public spaces, including H Bar, H Market and Outdoor Commons; workout rooms; on-site laundry facilities; complimentary breakfast; and a rooftop bar.

“We are grateful for Hyatt’s trust in us and the opportunity to collaborate on projects that make a real difference in the community,” said Akki Patel, CEO, LRE & Companies. “Their dedication to creating exceptional guest experiences matches our own, and we are proud to work alongside them on Caption by Hyatt Roseville and Hyatt House Roseville. We look forward to many more years working together and creating future success.”

Nirav Shah, regional VP, select-service development, Hyatt, said, “Working with LRE & Companies on this hotel project has been a truly exceptional experience. We are focused on building personal relationships with our owners to ensure that together we can deliver the world-class product and service for which Hyatt is known. We are grateful for the team’s dedication to excellence with these two Hyatt-branded hotels and look forward to a long and successful relationship with LRE & Companies.”

Roseville Junction will also include The Electric Pickle, the newly named entertainment and sports complex, three restaurants and an outdoor gathering space, Social Connection. The restaurants are currently under negotiation.

“With the right partners, Roseville Junction can completely transform a city of 135,000 people,” said Rohit Ranchhod, president/CEO, American Hospitality Services. “Our vision allows Roseville and its neighbors to flourish and thrive along with Roseville Junction. We can build a stronger, more resilient region by coming together and sharing ideas, resources and support.”

The site for Roseville Junction is about 20 miles north of Sacramento, close to Roseville Galleria, the second-largest mall in northern California.