Deal of the Week

 

March 18, 2014

July 18, 2014


Creekside Plaza in Poway

The 128,852-square-foot Creekside Plaza community shopping center at 13409-13589 Poway Road in Poway 92064, has been sold for $43,975,000, cash.

Not included in the transaction were the restaurant property (13445) and the two financing offices at 13455 and 13465, all at the front corner of the center at Poway and Community Road.

The buyer was ROIC Creekside Plaza LLC, 8905 Towne Centre Drive, San Diego, Attn: Richard Schoebel.

The seller of the property was Azure Creekside Corp., with Stanley L. Iezman chief executive officer.

Ryan Gallagher, senior managing director, and CJ Osbrink, associate director, of the Orange County office of HFF (NYSE: HF) represented the seller. The buyer represented itself.

The center is anchored by a 47,334-square-foot Stater Brothers market and a 10-screen Digiplex theater (38,500 square feet). Both anchors renewed leases in 2013. The center is 99 percent occupied.

The center was constructed in 1993 on a 12.7-acre corner parcel and renovated in 2005. The site accommodates 773 parking spaces.


 

March 18, 2014

July 18, 2014