Changing markets don't deter REZA Investment Group Inc. from closing more than $30,000,000 in one week.
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June 14, 2006 Irvine, CA REZA Investment Group Inc., a leading retail investment advisory firm, completes the sales of two high quality Southern California retail centers this week totaling $33,600,000. The transactions spanned from Bakersfield to San Diego.
REZA Investment Group Inc. currently sits at the top of the market of closed retail transactions in Southern California with over 18% of the dollar volume. "Our leading market share is a result of our client focus for both listed and off market transactions." Our leading market share is a result of our client focus for both listed and off market transactions." Said Terry Bortnick, president of REZA Investment Group Inc. Bortnick also added, "Both buyers and sellers have benefited from our focus on high quality, high profile retail assets."
Santee Town Center, San Diego, CA ($23,400,000) Santee Town Center was brought to market by REZA Investment Group Inc. for seller Kimco Santee 705, LLC. as part of Kimco's disciplined disposition strategy. This dominant power center is located in the thriving San Diego County region. With 91% of its income derived from national and regional credit tenants such as Michaels, Ross Dress for Less, Hollywood Video and Office Depot, this asset presented the buyer, Pacific Castle, LLP with the opportunity to own an institutional quality asset and take the property to another level.
Taft Hills Plaza, Taft Hills, CA ($10,200,000) this food and drug anchored neighborhood center is the most dominant shopping center in the trade area. Taft Hills Plaza boasts 69,381 square feet of rentable space, with a current tenant roster that is comprised of approximately 80% national and regional tenants including Albertsons and Rite Aid. Bear Valley Plaza, LLC of San Clemente California purchased the property from Wilson/Taft Investments, LLC of Bakersfield, California.
"This transaction illustrates the continued demand for grocery anchored and stabilized retail assets in Southern California, this asset provided the buyer with a sound 1031 exchange." Said Vice President, Ramez Barsoum.