Archives

Torrance, CA - August 10, 2012 - (RealEstateRama) -- Construction is complete for Nadel Architects-designed Heritage Plaza, a 230,000-square-foot retail center in Irvine, Calif. Originally designed in the 1970s, Heritage Plaza, owned by Regency Centers, is one of the oldest shopping centers in Irvine. The $10 million renovation project repositioned the center to best meet the diverse needs of current and future customer demand.

Torrance, CA - February 6, 2012 - (RealEstateRama) -- Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a $4.1 million sales transaction for a 5,107-square-foot retail building located at 44575 Avenida de Missiones in the southern California town.

Torrance, CA - January 11, 2012 - (RealEstateRama) -- Lee & Associates Net Leased Group in Carlsbad, Calif., a division of the national brokerage firm Lee & Associates, has closed a $19.1 million sale of a car dealership property at 6801 E. Frontage Rd, in Merriam, Kansas. The 58,430-square-foot property, which is occupied by CarMax, Inc., was purchased by an undisclosed buyer. CarMax, which will remain in the property, has 17 years on the initial lease term, which also includes four, 5-year options to extend.

Torrance, CA - January 10, 2012 - (RealEstateRama) -- Westwood Financial Corp. (WFC), one of the largest privately held owner-operators of retail properties in the U.S., is reporting one of its most successful years in its 40-year history with more than $172 million in acquisitions and dispositions in 2011. In total WFC completed 67 transactions in 2011, including five core acquisitions, 10 value-add acquisitions, five core dispositions and 47 value-add dispositions. The transactions were in 24 states. Over the past two years Westwood Financial Corp. has closed 14 value-add transactions for $60 million and is actively looking to reach its $100 million goal. In addition, the Los Angeles-based firm had an increase in its shopping center portfolio, particularly in the Southeast, which brings its ownership and management of more than 100 shopping centers and retail properties in 24 metropolitan markets.

The Madison, WI - October 3, 2011 - (RealEstateRama) -- office of Lee & Associates, one of the nation’s largest commercial real estate firms, has completed $2.8 million of leases at The Shoppes at Hartford; a 24,000-square-foot retail center in Hartford, Wis. Steve Doran and Todd Waller represented the ownership group on all transactions.

Torrance, CA - September 27, 2011 - (RealEstateRama) -- Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a $3 million sale (5 percent cap rate) on a 3,500-square-foot In-N-Out Burger restaurant, a regional chain of fast food restaurants in the western U.S., located at 12890 Gregg Court, in Poway, Calif.

Torrance, CA - June 9, 2011 - (RealEstateRama) -- Lee & Associates Central Coast, a full-service commercial real estate brokerage firm, has closed on the $2.1 million sale of a 1.12 acre parcel in San Luis Obispo, Calif., where buyer, Fresh & Easy Neighborhood Market, will build a 10,000-square foot store due to open in Q1 2012.

Irvine, CA - April 25, 2011 - (RealEstateRama) -- Faris Lee Investments, the nation’s largest retail investment advisory firm, has completed the $12.5 million sale of Shoppes at Puente Hills Mall, a 20,174-square-foot retail center located at 17501 Colima Rd. in City of Industry. Built in 2009 and situated on 2.52 acres, the center is an outparcel to the very successful Puente Hills Mall. The property is 87 percent occupied and includes Panera Bread, Chipotle, The Vitamin Shoppe, Wing Stop, T-Mobile, Jamba Juice, and others.

Torrance, CA - April 13, 2011 - (RealEstateRama) -- Regency Centers (regencycenters.com), a national owner, operator and developer of grocery-anchored and community shopping centers, started construction on the redevelopment of Granada Village, a 225,000-square-foot neighborhood center located in the San Fernando Valley. The $16 million redevelopment will convert this 46-year-old center into a regional draw with the addition of new-to-the-market retailers, sustainable design elements and upgraded center façade and amenities. The redevelopment is scheduled for completion in Spring 2012.

Torrance, CA - February 8, 2011 - (RealEstateRama) -- Ground has broken on the $10 million renovation of Heritage Plaza, a 226,998-square-foot retail center in Irvine, Calif., owned by Regency Centers (www.regencycenters.com), the leading national owner, operator, and developer of grocery-anchored and community shopping centers. The renovation of this Ralph’s-anchored center is scheduled for completion in November 2011.