LRE & Companies, the real estate development, asset manager, construction and hotel management company, and American Hospitality Services, Inc., a development and hotel management group based in Sacramento, Calif., that serves as a sponsor, operating partner, and asset manager of strategic commercial real estate assets, have announced the hotel brands and the name of the Roseville Junction sports and entertainment complex in Placer County, Calif. 

The new mixed-use development will include two select-service hotels — Caption by Hyatt Roseville and Hyatt House Roseville.  

Caption by Hyatt Roseville will consist of 122 rooms and suites, a fitness center, meeting facilities and a reimagined hotel lobby that will include an onsite F&B venue, an all-day café, market and bar with a lounge and social space.   

Meant for accommodations for short- and long-term stays, Hyatt House Roseville will feature 126 rooms, including studios and one-bedroom suites, public spaces, workout spaces and a rooftop bar.  

The Electric Pickle, Roseville Junction’s entertainment and sports complex, will comprise a bocce ball court and 10 pickleball courts, along with dining venues.  

Roseville Junction will include three restaurants, currently under negotiation, and an outdoor gathering space.  

The site will feature Social Connection and Fieldwork Brewing Company, a popular brewery in Northern California.  

“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. 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 mixed-use development will also include multiple dining venues. LRE & Companies and American Hospitality Services are reviewing letters of intent from regional operators for F&B offerings.  

Roseville Junction will be located 20 minutes north of Sacramento, Calif., and close to the new retail and shopping amenities, including Roseville Galleria in Roseville, Calif.  

SAN RAFAEL, California—LRE & Companies has unveiled plans for Fernley Promenade, a 13-acre mixed-use development project comprising industrial, retail, and hotel, in Fernley, Nevada.

“We’ve developed, opened, and operated hundreds of restaurants throughout Northern California and Western Nevada over two decades,” said Akki Patel, CEO of LRE & Companies. “Throughout our journey, we’ve perfected the process of identifying the right pieces of real estate and where future growth will be. Our strategic evaluation identified several prime real estate opportunities in secondary and tertiary markets for mixed-use development projects. Due to its proximity to major highways and strong market fundamentals, Fernley is one of those locations.”

Fernley Promenade will have a 98-room hotel, three restaurants, three 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 of finalizing the project’s national junior anchors. There are already several letters of intent for the restaurant pads. The remaining retail and QSR spaces are available for lease. Fernley Promenade is adjacent to Victory Logistics District, a 4,300-acre planned industrial center capable of meeting the growing need for manufacturing, distribution, data center, and logistics development in the region. The site is located between a Super Walmart and Lowe’s facing Highway 80. The project is slated to be completed by year-end 2024.

Located at the intersection of Interstate 80, U.S. Route 50 Alternate, and U.S. Route 95 Alternate, Fernley is a 30-minute drive from Reno, Nevada, about 22 miles north of Lake Tahoe; a 12-minute drive from Tahoe Reno Industrial Center; and nearly an hour drive to Pyramid Lake. In addition to restaurants, hotels, and casinos in the city, Fernley has an emerging tech community, including facilities for Tesla, Panasonic, and Apple.

Fernley has been in a growth cycle for much of the past decade. Part of the Reno–Sparks metropolitan statistical area, consisting of two counties in Western Nevada, Washoe, and Storey, Fernley has a population of nearly 23,000, with a five-mile population projection by 2026 of 25,070. The city has a growing population, affordable housing, and employment opportunities.

“Fernley Promenade has all the elements of a successful mixed-use development when you look at it on paper,” said Victor Chiang, vice president of development at LRE & Companies. “Being in one of the strongest counties in Northern Nevada, Lyon County, Fernley over the last 10 years has attracted large Class A industrial developers. We expect Fernley Promenade to drive tourism to the community and become a significant demand generator for future investments. The opportunity for investors, retailers, and, most importantly, the community is significant.”

Concerns Include New COVID-19 Variant, Economy

The past year was mostly positive for the hotel industry, as hotels in many markets achieved record-high rates and revenue per available room near or better than pre-pandemic levels. But staffing woes, supply-chain disruptions and the persistent threat of a recession were also at the forefront of the industry in 2022.

At a time of reflection and anticipation, hoteliers across several positions shared what they are most optimistic and pessimistic about as a new year gets underway.

What Are You Most Optimistic About in the Hotel Industry in 2023?

John Beck, general manager, Crowne Plaza HY36 in New York City: “New York is back. Private businesses are putting money into the New York experience, and when I say that I talk about all these real estate developments — we have Hudson Yards, Manhattan West. Companies are putting money behind the New York experience and doing things that have never been done before.

“Manhattan West has an ice skating rink now, so there’s now a few ice skating rinks in New York City. All the private funds going into the destination is exciting, and it gives more people access to do fun things in New York. It’s not just Rockefeller Center. The things that are planned for next year: festivals on Governors Island, festivals on Roosevelt Island, which hasn’t been done before.

“New York is really an accessible destination, and all the things that typically weren’t happening before the pandemic that are happening make it accessible.”

 

Vickie Callahan, senior vice president of revenue generation, Peachtree Hospitality Management: “I am most optimistic about the continued recovery of occupancy with limited new supply coming into the markets. This means the additional demand will continue to benefit the existing supply in the markets and help further recover occupancy in markets still trailing historical highs.”

Lynette Eastman, general manager, Surfjack Hotel & Swim Club in Honolulu, Hawaii: “The most optimistic thing is we have done a survey. Quinn [the Surfjack’s PR firm] wanted a survey of all their rivals to find out how they found out about the hotel. And the wonderful thing: No. 1 is word of mouth by a landslide for the Surfjack. No. 2 is Google. That’s attributed to Quinn and their marketing abilities to get us out there. And No. 3 is our website. So social media came in further down, but significantly different from the top three, for how they heard about the Surfjack. And so if it’s word of mouth, how awesome is that?

“Even with all this uncertainty, I as a hotelier am very excited about 2023. I’m not expecting a banner year, I’m not expecting it to blow up, but I am expecting it to continue, at least the way we came through in 2022, and not some huge drop.”

Amanda Hawkins-Vogel, executive vice president of operations, Twenty Four Seven Hotels: “Staffing. After a busy 2022, we have the staffing challenges now under control and with more unique solutions in place. We feel confident about being able to offer our guests outstanding service each stay.

“Like all hotel companies, one of the biggest hurdles was staffing our housekeeping departments. More creative ideas such as job sharing — part time, flex time and any time actually — that you can [make] work, we will schedule around the associate.

“We’ve also made sure we have all the tools at hand for our teams heading into the new year. For example, capital investment for new equipment and increasing linen par’s will help with productivity and efficiency, thus making our teams jobs easier.”

Akki Patel, President and CEO, LRE & Companies: “Opportunities! We are well-capitalized, so we are excited about the opportunity to look at more real estate. Also, we hope sellers will be more realistic with their timing expectations and give us enough time to determine whether the deal is feasible.

“During this last bull cycle, it has been a mad dash trying to perform due diligence and run our pro formas in very short timing windows. We are also excited because we will be coming to market with new projects; they should be better-positioned to capture market share since we will be the newer rooms and projects.”

Grey Raines, Managing Partner, Raines Company: “I am excited about our continued growth and what that means for our company and, most importantly, our team members. We are positioning ourselves as a critical player in the Southeast and, in preparation to do so, have introduced new leadership roles, inner-company promotions, and restructuring of roles and responsibilities within our corporate organization.

“These changes will provide further advancement opportunities for our team members while setting the company up for continued success.”

What Are You Most Pessimistic About in the Hotel Industry in 2023?

Beck: “I think as we head into the holiday season, we saw it last year. This time last year, we were sitting really well as an industry and we were poised to have a great December and an amazing [first quarter]. And then we had a variant hit and COVID kind of happened again.

“I think that’s on everybody’s mind. The industry is getting stronger. The biggest thing that can really hurt our industry is … another variant and COVID starting to explode again.

“I’m not an expert, I don’t think we’ll see that, but this month [December 2022] is going to be a record month for our properties. This month is going to be the best month financially we’ve ever done and hopefully nothing affects that.”

Callahan: “I am most pessimistic about the return of corporate demand although optimistic that hotels will see increases in ADR for corporate travel after three years of equal or lower rate performance in corporate travel. It has steadily improved in the last 12 months, however, still have a way to go for midweek occupancy levels to return.”

Hawkins-Vogel: “Continuing concern around the economy and inflation. Adding to that, the uncertainty of the return of the corporate traveler. To this end, we are very mindful of keeping a tight rein on expenses and will be monitoring closely the changing market and economic conditions.”

Patel: “Naturally, we are cautious and more conservative in our forward-looking ADRs and occupancy rate projections. Interest rates might stay up longer than more of the developers are expecting.”

Raines: “The rise in interest rates will continue to be a headwind in 2023 for new development and existing assets. As interest rates climb and debt becomes more difficult to obtain, development will slow down, only allowing exceptional projects to be built, which we view to be positive. Additionally, we may see a wave of distressed pricing that, when positioned correctly, will create greater acquisition opportunities.”

Robert Perea, The Fernley Reporter

A real estate development company has announced plans for a 13-acre development it calls Fernley Promenade, to be located on Stanley Dr. between Walmart and Lowe’s.

The project was announced by LRE & Companies, a real estate development, asset manager, construction, and hotel management company.

The project is slated to be completed by the end of 2024.

“We’ve developed, opened, and operated hundreds of restaurants throughout Northern California and Western Nevada over two decades,” said Akki Patel, CEO of LRE & Companies. “Throughout our journey, we’ve perfected the process of identifying the right pieces of real estate and where future growth will be. Our strategic evaluation identified several prime real estate opportunities in secondary and tertiary markets for mixed-use development projects. Due to its proximity to major highways and strong market fundamentals, Fernley is one of those locations.”

LRE & Companies said 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 of finalizing the project’s national junior anchors. There are already several letters of intent for the restaurant pads. The remaining retail and QSR spaces are available for lease.

Fernley Promenade is adjacent to Victory Logistics District, a 4,300-acre master planned industrial center capable of meeting the growing need for manufacturing, distribution, data center, and logistics development in the region. The site is strategically located between a Super Walmart and Lowe’s facing Interstate 80.

“Fernley Promenade has all the elements of a successful mixed-use development when you look at it on paper,” said Victor Chiang, vice president of development at LRE & Companies. “Being in one of the strongest counties in Northern Nevada, Lyon County, Fernley over the last 10 years has attracted large Class A industrial developers. We expect Fernley Promenade to drive tourism to the community and become a significant demand generator for future investments. The opportunity for investors, retailers, and, most importantly, the community is significant.”

LRE & Companies, a real estate development, asset manager, construction, and hotel management company, has unveiled plans for Fernley Promenade.

LRE & Companies says Fernley Promenade is a 13-acre mixed-used development project comprising of industrial, retail, and hotel, in Fernley, Nevada.

Fernley Promenade will have a 98-room hotel, three quick-service restaurants, three large junior anchors, and 16,000 square feet of shop space.

“We’ve developed, opened, and operated hundreds of restaurants throughout Northern California and Western Nevada over two decades,” said Akki Patel, CEO of LRE & Companies. “Throughout our journey, we’ve perfected the process of identifying the right pieces of real estate and where future growth will be. Our strategic evaluation identified several prime real estate opportunities in secondary and tertiary markets for mixed-use development projects. Due to its proximity to major highways and strong market fundamentals, Fernley is one of those locations.”

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 says it is in the process of finalizing the project’s national junior anchors.

There are already several letters of intent for the restaurant pads. The remaining retail and QSR spaces are available for lease.

Fernley Promenade is adjacent to Victory Logistics District, a 4,300-acre master planned industrial center capable of meeting the growing need for manufacturing, distribution, data center, and logistics development in the region. The site is strategically located between a Super Walmart and Lowe’s facing Highway 80.

The project is slated to be completed by year-end 2024.

“Fernley Promenade has all the elements of a successful mixed-use development when you look at it on paper,” said Victor Chiang, vice president of development at LRE & Companies. “Being in one of the strongest counties in Northern Nevada, Lyon County, Fernley over the last 10 years has attracted large Class A industrial developers. We expect Fernley Promenade to drive tourism to the community and become a significant demand generator for future investments. The opportunity for investors, retailers, and, most importantly, the community is significant.”

LRE & Companies have unveiled plans for Fernley Promenade, a mixed-used development project in Fernley, NV. It’s one of the fastest-growing cities in The Silver State. The project covers 13-acres and will comprise industrial and retail areas plus a hotel.

LRE & Companies is a full-spectrum real estate development, asset manager, construction, and hotel management company. The recent press release quotes Akki Patel, CEO of LRE & Companies…

“We’ve developed, opened, and operated hundreds of restaurants throughout Northern California and Western Nevada over two decades. Throughout our journey, we perfected the process of identifying the right pieces of real estate and where future growth will be. Our strategic evaluation identified several prime real estate opportunities in secondary and tertiary markets for mixed-use development projects. Due to its proximity to major highways and strong market fundamentals, Fernley is one of those locations.”

The Fernley Promenade plans include 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 will have a swimming pool, fitness centre, guest laundry room, breakfast room, and sundries shop.

“Fernley Promenade has all the elements of a successful mixed-use development when you look at it on paper,” said Victor Chiang, vice president of development at LRE & Companies. “Being in one of the strongest counties in Northern Nevada, Lyon County, Fernley over the last 10 years has attracted large Class A industrial developers. We expect Fernley Promenade to drive tourism to the community and become a significant demand generator for future investments. The opportunity for investors, retailers, and, most importantly, the community is significant.”

SUSTAINABLE HOSPITALITY ALLIANCE, GSTC ALIGN: The Sustainable Hospitality Alliance has announced a new cooperation agreement with the Global Sustainable Tourism Council (GSTC). The partnership will bring together the Alliance’s reach in the hospitality industry and measurement expertise with the GSTC’s experience in sustainability standards and assurance to upgrade the industry’s knowledge of sustainability criteria and the need to capture sustainability data. The collaboration will combine the GSTC Criteria, accreditation program and training opportunities with the Alliance’s industry leadership, tools and initiatives.   

HILTON GROWS IN COLOMBIA: Hilton has opened Hilton Santa Marta, its second hotel in Santa Marta, Colombia. The newly built 261-room hotel features five dining venues and over 11,000 square feet of flexible meeting and event space. Later this year, the hotel will open a children’s club, a spa with six treatment rooms, an exclusive lounge for Hilton Honors members and a beauty salon. The hotel is a recent addition to Hilton’s portfolio of over 200 hotels in 28 Caribbean and Latin American countries. Currently, Hilton operates more than 20 hotels in Colombia; In the region, the company has a pipeline of more than 100 hotels in various stages of development. 

MMI HOSPITALITY ADDS TO PORTFOLIO: MMI Hospitality Group, based in Flowood, Miss., has acquired Mission Inn Resort & Club in Lake County, Central Florida. The 500-acre hotel has 176 rooms, two golf courses, three restaurants, a spa, and over 30,000 square feet of indoor and outdoor event space. The property will undergo phased improvements that will begin early this year. 

CHARLESTOWNE ADDS LEADERSHIP POSITIONS: Charlestowne Hotels, based in Charleston, S.C., has expanded its corporate leadership team. This is part of a phased realignment plan that includes a greater emphasis on asset development and an increased focus on improving human resources and company culture. Charlestowne introduced nine new VP and director roles through 2022 to increase supervision of department-wide strategy and management. A brand new food and beverage support team was established alongside three more roles on its operations team to provide direct guidance on the property level and to stay ahead of industry trends. 

NEW MIXED-USE PROJECT IN FERNLEY, NV.: LRE & Companies, the real estate development, asset manager, construction and hotel management company, has unveiled plans for Fernley Promenade, a 13-acre mixed-use development project consisting of retail, hotel and industrial in Fernley, Nev. The development will include a 98-room hotel, three quick-service restaurants, three large junior anchors and 16,000 square feet of shop space. The four-story, extended-stay lodging facility, Home2 Suites at Fernley Promenade, will include a pool, fitness center, and other amenities. The project will be finished by the end of 2024. 

SAN RAFAEL, Calif. – LRE & Companies, a full spectrum real estate development, asset manager, construction, and hotel management company, has unveiled plans for Fernley Promenade, a 13-acre mixed-used development project comprising of industrial, retail, and hotel, in Fernley, NV, one of the fastest-growing cities in The Silver State.

We’ve developed, opened, and operated hundreds of restaurants throughout Northern California and Western Nevada over two decades. Throughout our journey, we’ve perfected the process of identifying the right pieces of real estate and where future growth will be. Our strategic evaluation identified several prime real estate opportunities in secondary and tertiary markets for mixed-use development projects. Due to its proximity to major highways and strong market fundamentals, Fernley is one of those locations. Akki Patel, CEO of LRE & Companies

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 of finalizing the project’s national junior anchors. There are already several letters of intent for the restaurant pads. The remaining retail and QSR spaces are available for lease. Fernley Promenade is adjacent to Victory Logistics District, a 4,300-acre master planned industrial center capable of meeting the growing need for manufacturing, distribution, data center, and logistics development in the region. The site is strategically located between a Super Walmart and Lowe’s facing Highway 80. The project is slated to be completed by year-end 2024.

Located at the intersection of Interstate 80, U.S. Route 50 Alternate, and U.S. Route 95 Alternate, Fernley is a 30-minute drive from Reno, NV, about 22 miles north of Lake Tahoe; a 12-minute drive from Tahoe Reno Industrial Center (TRIC), the largest industrial center in the United States and home to more than a hundred companies; and nearly an hour drive to Pyramid Lake, the only habitat in the world for the Cui-ui fish that has been around for more than two million years. In addition to many mom-and-pop restaurants, hotels, and casinos in the city, Fernley has an emerging tech community, including facilities for Tesla, Panasonic, and Apple. The city is also known for being the former home to one of the first Amazon.com fulfillment centers in the world.

Fernley has been in a growth cycle for much of the past decade, with little evidence indicating it will be slowing. Part of the Reno–Sparks metropolitan statistical area, consisting of two counties in Western Nevada, Washoe and Storey, Fernley has a population of nearly 23,000, with a five-mile population projection by 2026 of 25,070. The city has strong market fundamentals, including a growing population, ample affordable housing, a business-friendly state government, and plentiful employment opportunities.

Fernley Promenade has all the elements of a successful mixed-use development when you look at it on paper. Being in one of the strongest counties in Northern Nevada, Lyon County, Fernley over the last 10 years has attracted large Class A industrial developers. We expect Fernley Promenade to drive tourism to the community and become a significant demand generator for future investments. The opportunity for investors, retailers, and, most importantly, the community is significant. Victor Chiang, vice president of development at LRE & Companies

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.

SAN RAFAEL, Calif., Jan. 5, 2023 /PRNewswire/ — LRE & Companies, a full spectrum real estate development, asset manager, construction, and hotel management company, has unveiled plans for Fernley Promenade, a 13-acre mixed-used development project comprising of industrial, retail, and hotel, in Fernley, NV, one of the fastest-growing cities in The Silver State.

“We’ve developed, opened, and operated hundreds of restaurants throughout Northern California and Western Nevada over two decades,” said Akki Patel, CEO of LRE & Companies. “Throughout our journey, we’ve perfected the process of identifying the right pieces of real estate and where future growth will be. Our strategic evaluation identified several prime real estate opportunities in secondary and tertiary markets for mixed-use development projects. Due to its proximity to major highways and strong market fundamentals, Fernley is one of those locations.”

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 of finalizing the project’s national junior anchors. There are already several letters of intent for the restaurant pads. The remaining retail and QSR spaces are available for lease. Fernley Promenade is adjacent to Victory Logistics District, a 4,300-acre master planned industrial center capable of meeting the growing need for manufacturing, distribution, data center, and logistics development in the region. The site is strategically located between a Super Walmart and Lowe’s facing Highway 80. The project is slated to be completed by year-end 2024.

Located at the intersection of Interstate 80, U.S. Route 50 Alternate, and U.S. Route 95 Alternate, Fernley is a 30-minute drive from Reno, NV, about 22 miles north of Lake Tahoe; a 12-minute drive from Tahoe Reno Industrial Center (TRIC), the largest industrial center in the United States and home to more than a hundred companies; and nearly an hour drive to Pyramid Lake, the only habitat in the world for the Cui-ui fish that has been around for more than two million years. In addition to many mom-and-pop restaurants, hotels, and casinos in the city, Fernley has an emerging tech community, including facilities for Tesla, Panasonic, and Apple. The city is also known for being the former home to one of the first Amazon.com fulfillment centers in the world.

Fernley has been in a growth cycle for much of the past decade, with little evidence indicating it will be slowing. Part of the Reno–Sparks metropolitan statistical area, consisting of two counties in Western Nevada, Washoe and Storey, Fernley has a population of nearly 23,000, with a five-mile population projection by 2026 of 25,070. The city has strong market fundamentals, including a growing population, ample affordable housing, a business-friendly state government, and plentiful employment opportunities.

“Fernley Promenade has all the elements of a successful mixed-use development when you look at it on paper,” said Victor Chiang, vice president of development at LRE & Companies. “Being in one of the strongest counties in Northern Nevada, Lyon County, Fernley over the last 10 years has attracted large Class A industrial developers. We expect Fernley Promenade to drive tourism to the community and become a significant demand generator for future investments. The opportunity for investors, retailers, and, most importantly, the community is significant.”

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

Media Contact:
Christopher Joseph (CJ) Arlotta
CJ Media Solutions, LLC for LRE & Companies
C: 631-572-3019
351433@email4pr.com

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SAN RAFAEL, CA — December 7, 2022 — 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 unveiled the plans for Roseville Junction, a new mixed-use project in Placer County, CA, one of the state’s fastest-growing counties.

“Without a doubt, Roseville Junction is in a class of its own,” said Akki Patel, CEO of LRE & Companies. “Nothing like this project has been done before in Placer County, let alone the Sacramento area. What we’re developing is truly remarkable and a game-changer for the community. We’re proud to be part of Roseville Junction and a contributor to the future success of the Roseville community.”

Roseville Junction will have two select-service hotels, three restaurants, an outdoor gathering space, and an entertainment and sports complex. The hotels and 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. Social Connection will offer the most prominent outdoor gathering space for miles and be family and pet friendly to appeal to the small community. The 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. Social Connection will sit on more than 58,700 square feet.

Located in Northern California, Placer County has six incorporated cities and towns with a total area of 1,506 square miles of diverse geography and a population of 390,000 and 13,000 businesses. The county has more than one million acres of national forest land filled with trails, natural lakes, rivers, and streams. It is also a year-round destination for winter and summer, attracting more than one million visitors each year.

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.

“When we first assessed the site, the first thing we noticed is its outstanding location,” said Victor Chiang, vice president of development at LRE & Companies. “It’s centrally situated amongst so much amazing retail, including Westfield Galleria, The Fountains, and Creekside Town Center. With so much retail surrounding us, there’s plenty of opportunity to attract shoppers from all over. Roseville Junction is the perfect place for them to connect and gather, enjoy the California sunshine, grab a bite to eat, and raise a glass.”

The Roseville submarket has demonstrated strong demographic fundamentals and a rapidly expanding population and attracted several new major employers, many of which are in the healthcare industry. Other top industry segments include public administration, construction, education services, finance and insurance, and computer and electronic products.

“With more than 135,000 people, Roseville is the most populous city in Placer County, making it the ideal location for a new mixed-use project,” said Rohit Ranchhod, president and CEO of American Hospitality Services. “With a Mediterranean climate and more than 250 days of sunshine yearly, Roseville is home to more than 80 parks and recreation facilities. The city is also just 90 minutes away from Lake Tahoe, near endless winter and water sports, and numerous hiking and mountain biking trails.”