[Plugin: W3 Total Cache] Fatal Error Triggered Upon Activation

Hello,

I’m getting the following error while trying to activate this plugin:

/var/www/vhosts/dfwbulldogrescue.org/httpdocs/wp-content/w3tc/dbcache could not be created, please run following command:
chmod 777 /var/www/vhosts/dfwbulldogrescue.org/httpdocs/wp-content/w3tc

I’ve verified/attempted the following per other threads:

• Created folder w3tc and chmod 777 – howerver, when I tried to active after doing this, I was presented with same error and w3tc folder was removed by plugin
• verified /wp-content/upload folder is present – tried changing permission setting and reverted back to 777 but still get error

I’m on WP 3.01 and is a new install, not copied from a previous host.

Any advice would be greatly appreciated. Thanks!