Tuesday, March 18, 2014

HFF closes sale of Southern California grocery-anchored retail center


Creekside Plaza, 13409-13589 Poway Road,  Poway, CA

Ryan Gallagher
IRVINE, CA – HFF announced it has closed the sale of Creekside Plaza, a 128,852-square-foot grocery and cinema-anchored retail center in the San Diego suburb of Poway, California.

               HFF was retained by American Realty Advisors to market the property on behalf of one of American’s clients.  ROIC purchased the asset for an undisclosed amount.

               Completed in 1993 and renovated in 2005, Creekside Plaza is fully leased to tenants including Stater Bros. Markets (anchor), a 10-screen Digiplex cinema (anchor), Chipotle, FedEx Office, Jiffy Lube, Starbucks and Baskin Robbins.  

The property is situated on 12.7 acres at 13409-13589 Poway Road at the intersection of Community Road close to the 15 Freeway in North San Diego.

               The HFF investment sales team representing the seller was led by senior managing director Ryan Gallagher and associate director CJ Osbrink.

               John Jennings from Cushman and Wakefield assisted as the local market leasing representative.

CJ Osbrink
               American Realty Advisors is an investment advisor and a leading provider of real estate investment management services to institutional investors.  

With over $5.8 billion in assets under management, American Realty Advisors has provided real estate investment management services to institutional investors for over 25 years utilizing core and value-added commingled funds and separate accounts.

 The firm’s portfolios include office, industrial, multi-family, retail, and other properties nationwide, all of which are managed on behalf of their clients.  More information regarding American Realty Advisors can be found at www.americanreal.com.

Retail Opportunity Investments Corp. (Nasdaq:ROIC) is a fully integrated, self-managed real estate investment trust. 

  ROIC specializes in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers, anchored by national or regional supermarkets and drugstores. 

  As of December 31, 2013, ROIC owned 54 shopping centers encompassing approximately 5.8 million square feet.  Additional information is available at: www.roireit.net.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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