Nut Tree Plaza in Vacaville gets new owners
(Photo by Matthew Keys for Solano NewsNet)
The iconic Nut Tree dining and retail plaza in Vacaville is now under new ownership.
Tower Investments of Woodland and Nella Holdings of Auburn, both family-owned companies, acquired the 371,000-square foot property for more than $124 million, according to the trade publication REBusiness Online.
The purchase comes after the Dallas-based owners of the Nut Tree listed the property for sale late last year. The property was valued at just under $70 million, according to the North Bay Business Journal.
Tower Investments has acquired developed portions of the property, which includes retailers and restaurants like Best Buy, Nordstrom Rack, HomeGoods, Ulta Beauty, Fenton’s Creamery, Panera Bread, Old Navy and Peet’s Coffee.
Undeveloped land located behind the shopping and restaurant center was also sold, though the valuation of that property was not immediately available. A developer intends to start building an apartment complex behind the Nut Tree Plaza later this year.
The Nut Tree Plaza was developed between 2006 and 2008. It exists on the same property as the former Nut Tree amusement park and restaurant, which were torn down to make way for the retail and shopping center.
Some remnants of the old Nut Tree remain at the plaza, including the amusement park’s train, hobby horses and iconic sign. A revival of the amusement park opened behind the retail center in 2006 but was closed less than two years later.
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