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At Vestar our mission is to create unique destinations with a sense of place

OUR MISSION

To create unique destinations with a sense of place.

OUR VISION

Produce long-term value and success through lasting relationships and continue to elevate, innovate and lead what’s possible through perseverance and passion.

OUR HISTORY

Since 1989 Vestar has been operating, acquiring, developing institutional quality real estate throughout the western United States.

 

1977 – 1989

Vestar operates as the commercial retail division of Estes Homes, a large homebuilder focused on the southwestern U.S.

1989

Founders Lee Hanley, Rick Kuhle, David Larcher, Paul Rhodes and Peter Thomas acquire Estes’ commercial retail division with the backing of Ameritech Pension Trust.

1996

Vestar becomes 100% employee – owned when management exercises its buyout right of Ameritech.

1989 – 2007

Vestar develops 69 retail projects comprising of 23.6 million square feet throughout the western U.S.

2002

Vestar launches its third-party asset services business line.

2006

Vestar sells a majority interest in 21 assets to UBS totaling nearly $1 billion of value.

2009 – 2010

Through its acquisition and re-development-focused business plan, Vestar expands its operating footprint from Arizona and Southern California to include major markets throughout the western U.S.

2015

Arizona State Retirement System and Vestar create a separate account to acquire grocery-anchored centers throughout the western U.S.

2018

Northwestern Mutual and Vestar create a separate account to acquire high quality power centers throughout the western U.S.

2024

Vestar completes construction of three dynamic new open-air retail centers totaling 550K square feet, with an additional 2.5M in planning or under construction.

OUR HISTORY

Since 1989 Vestar has been operating, acquiring, developing institutional quality real estate throughout the western United States.