Thursday, July 28, 2011

Loja Real Estate Acquires The Shops at Pacific Station in California



 WALNUT CREEK, CA – Tom Engberg, CEO of Loja Real Estate, LLC,  announced the acquisition of The Shops at Pacific Station (top left photo) for one of the Firm’s separate accounts.  Loja Real Estate, LLC, is a wholly-owned subsidiary of Loja Group LLC, a real estate investment management firm.

 Loja Real Estate purchased The Shops at Pacific Station from Pacific Station Property, LLC for $19.5 million. The transaction closed on July 25, 2011.  This is Loja Real Estate’s fourth acquisition.

 The Shops at Pacific Station, a 38, 828 square foot grocery-anchored neighborhood shopping center, is the retail portion of a 98,403 square foot vertical mixed-use center containing second and third-story office space totaling 9,733 square feet, and 47 residential condominium units.

The Shops at Pacific Station is located in Encinitas, a coastal community in San Diego County, CA.  In addition to a 25,000 square foot Whole Foods, which just opened in June.

The Shops at Pacific Station has a strong tenant mix, including an Urban Solace (upscale restaurant), Bliss 101 (craft/furniture gallery), Icons (high-end clothing boutique), and a Bombshell Boutique Salon (to open in August).  The Shops at Pacific Station is currently 96% leased. 

The development is LEED Silver Certified to achieve maximum energy efficiency with the least possible impact on the environment. 

Loja Group was represented by Richard Lebert, Senior Vice President, Colliers International.

 Pacific Station Property, LLC was represented by Ryan Gallagher (lower left photo), Senior Managing Director, Holliday Fenoglio Fowler, LP.  Loja Group has retained Capital Growth Properties, Inc. of La Jolla, CA, to manage the property.

 Additional information about Loja may be found at www.lojagroup.com.

 Contact
Robin Schoen, Robin Schoen Public Relations, 215.504.2122o, 215.595.7542 m

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