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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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Sperry Van Ness Provides the Rite-Aid in $5.4 mil Single-Tenant Sale 1/06/05 In this report we'll review a pair of recent retail investment sales brokered by Sperry Van Ness, the Irvine-based investment brokerage firm. In one of the transactions, a Redondo Beach-based private investor paid $5.4 mil fo...
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Watt's Happening in Atlanta 1/05/05 Santa Monica-based Watt Commercial Properties Inc has just acquired three shopping centers located in the greater Atlanta market area, totaling nearly 700k sf, from Jamestown Properties. Watt's partner in the transaction is C...
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Simi Valley Center Offered for Sale at $45 Mil 1/04/05 A 287k sf Simi Valley retail center has been listed for $45 mil ($157/sf). The property, called Mountaingate Plaza, is located on the northeast corner of Los Angeles Ave and First St, just south of the 118 Fwy in Ventura Coun...
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Investors See Upside to Creekside 12/30/04 Creekside Plaza, a 76.3k sf grocery-anchored shopping center in Calabasas was purchased by a family trust for $21.7 mil ($284/sf). Built in 2001, the center is located at 26521, 26527 and 26531 Agoura Rd, just west of Las Vir...
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Canon Fires Off $29 Mil for Moreno Valley Plaza 12/29/04 LA-based Canon Commercial Inc paid $29 mil for Moreno Valley Plaza, a 342.5k sf ($85/sf) community shopping center on the southwest corner of Heacock St and Sunnymead Blvd in Moreno Valley. Located just south of the 60 Fwy, w...
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New Project to Bring Drive-Thru Food to Claremont College Community 12/28/04 Hutton Development is scheduled to break ground in early 2005 on a 44.4k sf retail center that will be part of College Park, Upland's new 40-acre master planned development located at Monte Vista Ave and Arrow Route. Situated...
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Circuit City Acquires Eight-Store Portfolio from MetLife for $60 Mil 12/23/04 Richmond, VA-based Circuit City has purchased a retail leased portfolio, consisting of eight properties totaling 425k sf. Five of the properties are located in Northern California; two are in Southern California and one in Co...
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December 22, 2004 - Macerich to Replace Santa Monica Place 12/22/04 In what is one of the biggest retail-related news announcements in the LA area over the past year, and certainly one of the biggest examples of Chutzpah we've seen in quite some time, Macerich unveiled its plans to redevelop ...
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Retail Deal Notes 12/21/04 ELK GROVE (San Diego County) – GD Development LLC paid $18.6 mil for Laguna Plaza, a 205.8k sf ($90/sf) grocery-anchored center located on the corner of Hwy 99 and Elk Grove Blvd. It's anchored by Pak ‘n Save, with other tena...
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JP Morgan Acquires 50% Interest in Del Amo Fashion Center 12/20/04 Here's an update on a major SoCal retail transaction that we first reported as in the works back in April, that being The Mills Corporation's sale of a 50% joint-venture interest in the Del Amo Fashion Center to JP Morgan Fle...
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Hanley Brown Closes $65 Mil of Retail Sales 12/16/04 Hanley Brown Group, an Irvine-based retail investment firm, recently brokered nine retail transactions with a total value of approximately $65 mil. All of the properties involved, some of which are stabilized properties while...
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Financing Notes 12/15/04 The Portland office of Holliday Fenoglio Fowler LP arranged $36 mil in acquisition financing for Westgate Village Center, a 576.7k sf, retail-oriented, mixed-use property in the Northern California city of San Leandro. The co...
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Local Buyer Acquires Landmark Center in Berkeley 12/14/04 A locally based family trust acquired the landmark Berkeley Center shopping center in Berkeley, at a price of $17.2 mil, with a 7.83% market capitalization rate. The 92.5k sf ($186/sf) retail, theater and office complex encom...
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SoCal Retail Briefs 12/10/04 DOWNTOWN SAN DIEGO (San Diego County) – Hilo Hattie is coming to San Diego's Gaslamp Quarter, as the retailer inked a 10-year, $2.64 mil lease for 5.3k sf ($4.15/sf/mo) of store space at the northeast corner of Fifth and K St...
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Hollywood May See a New $300 Mil Nederlander Production 12/09/04 An underutilized stretch of land adjacent to the Pantages Theater in Hollywood may get the green light for a major $300 mil mixed development before too long. A recent article in the LA Business Journal says the Nederlander P...
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Retail Briefs 12/08/04 PALM SPRINGS (Riverside County) – a San Jose private investor paid $1.75 mil for El Patio Court, an 8k sf ($219/sf) multi-tenant retail/restaurant center at 382 – 398 N. Palm Canyon Dr. Originally built in 1940, the building...
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