The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 28, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



HOME PAGE NEWS
Printer-friendly Version   Email an Associate
Regency Centers Collects $62 Mil from San Pedro Retail Sale

5/15/12

In a big SoCal retail buy, an affiliate of First Washington Realty Inc has purchased Park Plaza, a 200k sf shopping center in San Pedro, for $62 mil ($310/sf). The center, located at 800 N. Western Ave, just west of Terminal Island and the 110 Fwy terminus, was sold by an entity of Regency Centers Corp, the NYSE-traded retail REIT.

Park Plaza is a dominant community retail center situated on a 13-acre land parcel in the highly visible and highly trafficked Western Avenue corridor. It is 95 percent leased to such tenants as CVS, Ross, Sprouts, PetCo, Office Depot, McDonald’s, Chipotle, Bank of America and Chase.

First Washington is planning to immediately invest in capital upgrades to further enhance the center and attract additional national tenants to the property. The company, through its affiliates, owns or is a partner in 16 additional properties in California and is aggressively pursuing multiple opportunities in Southern California.

The shopping center was originally developed in 1962. The Regency Centers entity, Columbia Park Plaza LLC, acquired the property in 2001.

Bill Bauman, executive vice president, and Kyle Miller, managing director, of Studley’s National Retail Services Group, represented the seller in the transaction. According to Bauman, more than 20 bids were received on the property, reflecting its history of strong tenant sales performance and stable rental growth. Studley also previously represented Regency Centers in the purchase of Oakshade Town Center in Davis, CA.






Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media