SAN RAFAEL, Calif., April 13, 2023 /PRNewswire/ — LRE & Companies, a full spectrum 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,” said Akki Patel, CEO of 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 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, across the street from University Square is 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 of development at 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.
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
Christopher Joseph (CJ) Arlotta
CJ Media Solutions, LLC for LRE & Companies
SOURCE LRE & Companies