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You Can Park $20 Mil in Parkview Village 1/31/05 Parkview Village Shops, a 94.8k sf shopping center in Long Beach, has been put on the market with an asking price of $19.875 mil ($210/sf). The offering, which consists of three city blocks of prime retail and office space on...
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Culinary Institute Cooks Up 10-Year Lease at The Dome 1/28/05 Career Education Corporation (CEC) agreed to a 10-year lease for 20k sf at The Dome Entertainment Center in Hollywood. CEC plans to use the space for a culinary institute offering a certificate program in the culinary arts. ...
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Red Mountain Grabs $58 Mil of Circuit City Properties 1/27/05 Santa Ana-based Red Mountain Retail Group (RMRG) has acquired a $58 mil portfolio of Circuit City buildings from MetLife Real Estate Investments. The acquisition consists of seven properties, six of which are in California, w...
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Valencia Retail Center Sells for $66 Mil 1/26/05 CPF Promenade LLC has purchased Promenade at Town Center, a 182.5k sf grocery-anchored retail center in Valencia, from RKR Incorporated, the center's developer. The transaction had a value of $66.6 mil, or about $365/sf. Bar...
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SSR and CalPERS Spend $165 Mil, Hollywood-Style 1/26/05 SSR Realty Advisors, the pension fund advisor for CalPERS, has acquired the 625k sf Sunset + Vine mixed-use complex, a 3.4-acre development at 1555 Vine St, at the northwest corner of Sunset Blvd and Vine. According to a rece...
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CA Retail Sales Review 1/25/05 ANAHEIM HILLS (Orange County) -- Remarc Management purchased El Rancho Plaza, a 25.5k sf multi-tenant retail strip center in the master-planned community of Anaheim Hills, for $7 mil ($275/sf). Situated on a 2.43-acre parcel ...
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Caruso Sings Encore with Latest Win in Glendale 1/24/05 Caruso Affiliated prevailed in court once again in its ongoing battle with General Growth Properties' (GGP:NYSE), which has been trying to prevent the development of Caruso's new Town Center development in the city of Glendal...
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SoCal Retail Sales 1/24/05 BURBANK (Los Angeles County) – GAM Holdings LLC paid $7.65 mil for Landmark Center, a 28.1k sf ($272/sf) shopping center located at 2400 West Victory Blvd.Brandon Weinstock of NAI Capital Commercial represented the seller, GD...
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Robertson Properties Completes Phase I of Kohl's-Anchored Center in Petaluma 1/21/05 Robertson Properties Group has completed the first phase of construction at Redwood Gateway, a 160k sf community retail center in Petaluma, anchored by Kohl's Department store. The 96k sf store, the fourth location for Kohl'...
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Retail Leasing Notes 1/20/05 WESTMINSTER (Orange County) – Westminster Superstore signed a 15-year lease for a 93k sf grocery store at 15440 Beach Blvd in Westminster Plaza. Other tenants at the center include Hof's Hut, Ken Crane's Audio/Video and Enter...
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Passco-Led TIC Group Bets on New Las Vegas Strip Retail Center 1/19/05 Passco Real Estate Enterprises Inc and its tenant-in-common investor group have closed on a $42.4 mil acquisition of Silver City Plaza, a recently completed 41.6k sf retail center located on the famed Las Vegas Strip. The pro...
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Breaking Up not Hard to Do at New 56k sf San Clemente Center 1/18/05 Newport Beach-based Caliber Retail Properties Group completed the break-up of The Courtyards at Talega in San Clemente, having just collected $5.6 mil from the sale of the fifth, and final, parcel, a 9.2k sf two-building reta...
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Kearny Mesa Land Acquisition Opens Up Spectrum of Opportunity for NewMark Merrill 1/17/05 Tarzana-based NewMark Merrill Companies acquired an acre-and-a-half site located at the southwest corner of Clairemont Mesa Dr and Overland Ave in the Kearny Mesa area of San Diego, on which they intend to develop a 13.2k sf ...
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Investors Make Run for the Borders in Both Ends of the State 1/14/05 San Diego-based LandGrant Development recently sold two California Borders Books & Music properties. The single-tenant net-leased assets, located in Pasadena and Union City, sold for a combined $20.78 mil. Borders Group Inc (...
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Sand Hill Makes $23 Mil Cupertino Buy 1/13/05 Sand Hill Properties, a San Mateo-based investor, purchased The Oaks Center, a 71.2k sf retail center in Cupertino. The transaction was valued at $23 mil ($323/sf).
The property is located at 21269 Steven Creek Blvd and was...
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SoCal's Retail Investment Market Still Hot 1/12/05 SoCal's retail market continues its incredible run with double-digit increases in cost per square foot, while capitalization rates dropped more than one-half point in 2004. Simultaneously, the market experienced an overall d...
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January 12, 2005 - A Bloom's Review of 2004 Issues 1/12/05 By Steve Bloom
While there were many major retail stories of 2004, including some major corporate takeovers, sizable property and portfolio sales and big retail mergers, perhaps no topic in the retail sector was as much a ho...
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DDR and Coventry Generate $51 Mil from Sales of Two SoCal Retail Properties 1/11/05 Developers Diversified Realty (NYSE: DDR) and Coventry Real Estate Partners (Coventry) recently sold two separate properties -- a portion of the Plaza at Puente Hills, located in City of Industry, and Olympiad Plaza, located ...
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Mesirow Financial Munches on Some Inland Empire Stater Tots 1/10/05 Chicago-based Mesirow Financial has acquired a four-building grocery store portfolio net leased to Stater Brothers for $28 mil. The portfolio is comprised of four, single-tenant grocery stores located in the Inland Empire ci...
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Plaza Las Americas Benefits from Smart Growth 1/07/05 Pacific Coast Capital Partners (PCCP) has teamed up with Stoltz Real Estate Fund in the acquisition of Plaza Las Americas, a 46.8-acre retail property in San Ysidro, located in south San Diego County at the Mexican border. PC...
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