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February 21, 2024
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RETAIL NEWS
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• Mills Corp to Acquire a Great Mall
5/30/03
Just three weeks since we reported on Mills Corp's pending acquisition of the giant Del Amo Fashion Center in Hawthorne, the national shopping center owner is reportedly about to purchase another major California center --- t...
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• ICSC Re-Cap
5/29/03
By Steve Bloom It was another interesting ICSC convention last week, from Monday May 19 Wednesday May 21, where this year about 26,000 people or so from around the US once again swarmed into the Las Vegas Convention Center...
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• May 28, 2003 - Stanford Seeking Bids for Shopping Center
5/28/03
Stanford University is soliciting bids for a long-term lease of the 70-acre Stanford Shopping Center. The lessee would operate the center and capture revenues, but the university would retain title to the land and buildings. ...
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• Financing Notes
5/27/03
Pacific Coast Capital Partners recently closed on financings for two retail properties in SoCal, in deals worth a combined $33 mil. The properties are Escondido Village in Escondido and Village West Center in Hemet. PCCP clo...
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• Late Night Deal News at the Bellagio
5/23/03
By Steve Bloom ICSC is great for getting scoops on major deals of all types that are going down because, as we all know, the best scoops come face to face in a social setting. And so I found myself at the Bellagio at some ri...
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• Palm Desert Shopping Center Sells for $70 Mil
5/23/03
Davis Street Land Company, a privately held owner/developer of upscale retail and specialty properties, purchased The Gardens on El Paseo retail shopping center, a 200.3k sf property located in the renowned El Paseo retail di...
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• Weingarten Makes $17.5 Mil Purchase in San Diego County
5/22/03
Weingarten Realty Investors (NYSE: WRI), the big retail REIT, just acquired Rancho San Marcos Village, a 121k sf grocery-anchored shopping center, in a transaction valued at $17.5 mil ($145/sf). The Von's-anchored center, lo...
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• May 21, 2003 - Blue Light Special
5/21/03
The Home Depot beat out rival Lowe's Home Improvement as well as Wal-Mart to take over an abandoned Super Kmart site in East Oakland. The Atlanta-based retail chain bought the 17.8-acre site at 4000 Alameda Ave, just off I-88...
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• Golfsmith Tees Off in the South Bay
5/20/03
Continental Development Corporation, one of Southern California's premier commercial developers, late last month announced that they signed Golfsmith International for a 13k sf space at Continental Park, the massive commercia...
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• M&H Putting $675 Mil Worth of Markets on the Market
5/19/03
We're going to pass on a couple of notes about some California shopping centers on the market, or about to hit the market, courtesy of Real Estate Alert. The latest edition of the Alert reports that M&H Realty Partners, a SF-...
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• Retail Notes
5/17/03
ANAHEIM (Orange County) 98 Cents Discount Store has inked a 10-year lease for a 9.6k sf store in the Euclid Shopping Center, at 1618 W. Katella Ave, at the corner with Euclid St. The value of the transaction was not disclos...
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• Passco Doesn't Pass Up Record Setting $148 Mil Buy of Puente Hills Mall
5/16/03
Passco, a Santa Ana-based real estate investment firm, has purchased the majority of the 1.2 msf Puente Hills Mall in what is reported to be the largest tenant-in-common transaction in history, valued at $148 mil. The unusual...
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• Pasadena Retail Acquisition is Furst Rate
5/14/03
A 27.8k sf retail property at 603-605 South Lake Ave in Pasadena was sold for $6.5 mil ($234/sf). Consisting of two free-standing buildings of 23.3k sf and 4.5k sf, the property was purchased as a fully leased investment. Wil...
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• May 13, 2003 - Spring Sales
5/13/03
With many parts of Northern California still under-stored due to a shortage of development sites, the uncertain consumer economy has not particularly dampened investor interest in local retail properties. Following the previo...
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• Del Amo Fashion Center to Become a Mills Mall
5/12/03
Del Amo Fashion Center, SoCal's largest mall, is about to trade hands. According to the latest edition of Real Estate Alert, Arlington, VA-based Mills Corp has secured the winning bid for the massive 3 msf regional center, th...
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• San Jose Seller Hoping Buyers Willing to Spend More for Parkmoor
5/08/03
One Silicon Valley retail property has sold to a Georgia developer and another has gone on the block. Forum Development Group agreed to pay $48 mil for the troubled Sunnyvale Town Center, with plans to turn the 35-acre site i...
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• Genesis Performs in $34 Mil Deal at SouthBay Pavilion
5/07/03
Newport Beach-based Hopkins Real Estate Group (HREG) has wrapped up a major SoCal retail buy, reportedly paying just over $34 mil for a major chunk of SouthBay Pavilion, a 937.7k sf regional mall on 71 acres at the southeast ...
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• May 6, 2003 - Retail Briefs
5/06/03
NORCO (San Bernardino County) - A vacant Home Base/Home to Home property was sold for $6.4 mil. The site is located at 200 Hidden Valley Pkwy in Norco. Alan Kreuger and Mike Lawrence of Marcus & Millichap represented the unna...
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• Hopkins Grabs Santa Clarita Site for Neighborhood Shopping Center
5/05/03
Newport Beach-based Hopkins Real Estate Group purchased four acres of land in Santa Clarita for $2 mil ($11.50/sf). Hopkins intends to build a 45k sf neighborhood shopping center on the site, located at the southwest corner o...
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• Top Dog to get Top Exposure at Oakland's City Center
5/02/03
We've been so busy reporting a number of recent office deals at Shorenstein Company's new 555 City Center high-rise in Oakland over the past few months, that we've not had the opportunity to mention a trio of new retail tenan...
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