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Investor Spends $6.3 Mil on Pair of Diamond Bar Retail Gems 4/12/04 Kensington Diamond Bar, LLC, an affiliate of Tustin-based Kensington Real Estate Group, sold two retail buildings, totaling 29.7k sf, located within Diamond Bar Village Center for $6.3 mil ($212/sf). The buyer of the two reta...
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Retail Notes 4/09/04 MISSION VIEJO (Orange County) – LA-Z-Boy Furniture Galleries inked a lease for another store, after signing a 15-year, $3.39 mil deal for 16.1k sf ($1.17/sf/mo) of space in Mission Viejo. The new location is at 28565 Margueri...
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J.P. Morgan Said to Be Looking at Stake in Del Amo Fashion Center 4/08/04 J.P. Morgan Fleming, the real estate advisory fund, is reportedly purchasing a substantial stake in the Del Amo Fashion Center, SoCal's largest mall. As many of our readers will recall, the giant mall was just acquired by Arl...
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Popular Fisherman's Wharf Retail Center on the Market for Over $1,000/sf 4/07/04 A popular shopping center in San Francisco's Fisherman's Wharf is reportedly on the market. According to a recent story in the San Francisco Business Times, the owners of The Anchorage, an 80k sf center located between Pier 3...
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Cellular Service Provider Sprints into Downtown San Diego Hotel 4/06/04 Here's news of another cellular services retailer in downtown San Diego, as Sprint Spectrum LP signed a 10-year, $1 mil lease for a 3.1k sf ($2.69/sf/mo) retail space within the Westgate Hotel, located at 1055 Second Ave. The...
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Buyer Makes Federal Case out of Westgate Mall Sale 4/05/04 Federal Realty Investment Trust (NYSE:FRT) has purchased Westgate Mall, a 637k sf shopping center in San Jose, for $97 mil in cash from a private owner. Federal Realty plans to increase the value of the property through the r...
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NoCal Retail Notes 4/01/04 SAN FRANCISCO (San Francisco County) – Heitman Capital Management has put the 854k sf Stonestown Galleria on the market on behalf of its owner, a partnership that includes the San Francisco City & County Employees. Per a rece...
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Latest Investor an Authority on Escondido Valley Center 3/31/04 A California limited partnership has picked up the majority portion of the Escondido Valley Center shopping mall for $10.9 mil. The buyer, WGA Sports Authority LP, acquired a 92.7k sf ($118/sf) portion of the property that in...
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Partnership Spends $5.2 Mil on Mira Mesa Center 3/30/04 Scripps Mesa Retail Center, a 25.2k sf center in Mira Mesa, traded hands for $5.17 mil ($205/sf). The 25-year-old property sits on 1.7 acres and is located at 9801-9841 Mira Mesa Blvd, just east of I-15. It was fully leased a...
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Retail Notes 3/29/04 LANCASTER (Los Angeles County) – JRP Management Co LLC has paid $7.25 mil for Lancaster Village, a 44.9k sf ($161.50/sf) retail center at 1001 W. Avenue I. The center is anchored by Vallarta Supermarket, which was not part of...
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Passco Receives Fair Price for Antioch Mall 3/26/04 Delta Fair Shopping Center, a 156k sf retail center in the NoCal city of Antioch, traded hands for $16.5 mil, or about $106/sf. Located at 2710 Delta Fair Blvd, the property was purchased by the Gabriel Chiu Family Trust, a P...
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Retail Notes 3/26/04 FALLBROOK (San Diego County) – A West LA-based investment entity paid $13.8 mil for Fallbrook Mercantile Shopping Center, a 70.4k sf ($196/sf) retail mall at 845-855 South Main Ave in Fallbrook. The sale included a Denny's, B...
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Macy's Becomes Its Own Landlord in Union Square 3/25/04 Macy's, the venerable national retailer owned by Federated Department Stores, recently purchased the 264.8k sf building in San Francisco's Union Square that it had been leasing for years. According to a recent article in the ...
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Pan Pacific Acquires Anaheim Plaza 3/25/04 Pan Pacific Retail Properties (NYSE:PNP) added another big SoCal center to its portfolio, having paid $57 mil for Anaheim Plaza, a 492k sf ($116/sf) community shopping center located adjacent to the I-5 at the Euclid St exit....
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South Bay Retail Seller Gets Rich in $11 Mil Deal 3/24/04 In a SoCal retail investment from a few weeks ago, Rich Development Co paid over $11 mil for Pacific Square, a 143.9k sf property at 1600 W. Redondo Beach Blvd in Gardena. The acquisition consists of a 90k sf supermarket-anch...
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Hooters Busts into Burbank with New Restaurant at Crown's Media City Center 3/23/04 Crown Realty & Development continues to fill out their Media City Center mall in downtown Burbank, as they recently signed Hooters, the popular, family-oriented restaurant chain, which inked a long-term lease for a 6.5k sf re...
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Long Beach Marketplace Acquired by Pacific Castle 3/22/04 Pacific Castle, a private investment group positioned to serve the Chinese-American investment community, has purchased Long Beach Marketplace, a 163k sf lifestyle shopping center located at the intersection of Pacific Coast ...
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Opening of Lakeside Plaza Adds to Retail Empire 3/19/04 Lakeside Plaza, a 100k sf infill retail center in Moreno Valley, just opened its doors, with Stater Brothers as the anchor tenant. Lakeside Plaza is located on the northwest corner of Iris Ave and Lasselle St, adjacent to Las...
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Luna Eclipses San Diego Gaslamp Restaurant Site 3/18/04 Chalk up one more restaurant choice for visitors to San Diego's Gaslamp District, as Luna Lounge has inked a 10-year, $2.56 mil lease for a 6.2k sf ($3.44/sf/mo) space in the Julian Building, at 639 J St. Luna, which speciali...
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It's Still a Sellers Market for SoCal Retail Properties 3/17/04 The retail market in SoCal continues to be one of the strongest segments of the real estate industry. Cost per-square-foot and sales volumes for retail centers in Southern California are growing by double-digits, according to...
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