Insights from CRE Owners on How Technology Has Transformed Their Business
“Real estate has been one of the largest lagging industries to be transformed by technology at the organizational level. We are now finally seeing high quality solutions being offered which improve our ability to gain operating and organizational efficiency thanks to large amount of VC capital flowing into the real estate tech space. While in the past we have been almost exclusively focused at working ‘in the business’ at the asset level, we are now fully engaged on working ‘on our business’ at the organizational level.” – Alex Zikakis
Phoenix Is No Longer An End-of Cycle Market
The cycle is mature—so mature that many are predicting a recession in the next 12 months. The mature cycle has meant peak pricing in many top markets, and as a result, investors have fled to secondary markets to chase yield, and Phoenix has been a favorite. In prior cycles, Phoenix has been a final play before a downturn hit, but this time, things may be different.
“One of my real estate investor buddies once said to me, ‘Phoenix, where California money goes to die at the end of every real estate cycle.’ There is no doubt that historically Phoenix has been a boom and bust market,” Ira Schwartz, COO of Capstone Advisors, tells GlobeSt.com…Read More
Building a Recession-Proof Business
Building a Recession-Proof Business
While we are not overly concerned about a severe impending economic downturn, we are absolutely taking steps to recession-proof our organization and our holdings. Most of the time what causes a real estate investor the greatest pain in an economic downturn is debt maturity during a time of illiquidity or poor debt coverage. October 2019.
Capstone Continues to Expand in Phoenix
Capstone Advisors is continuing to expand its Phoenix retail portfolio. The firm has exited out of a shopping center in San Diego and purchased its fifth retail property in Phoenix. Capstone purchased 18,037 square feet of shop space at the 250,000-square-foot Tuscano Town Center in Phoenix. The property is 100% leased to 12 tenants, and is an ideal fit for Capstone’s Phoenix business plan.
“We are focused on two primary product types in Phoenix, retail and multi-tenant flex-industrial. This is our fifth current project in that market,” Ira Schwartz, COO of Capstone Advisors, tells GlobeSt.com…Read More
Capstone Advisors Sells Retail Center In San Diego, California
CARLSBAD, California – September 10, 2019 – Sabre Springs Plaza, a 15,038-square-foot retail center located at the intersection of Poway Road and Springbrook Drive in the Sabre Springs community of San Diego, was sold by an affiliate of Capstone Advisors for $6.8 million to a Southern California-based private investor. Sabre Springs Plaza had been owned and operated by Capstone Advisors since the firm acquired the property in 2015. Sabre Springs Plaza was the second retail center sale in the past 14 months for the Carlsbad-based real estate firm.
“We are pleased to have successfully executed our business plan for Sabre Springs Plaza, which included correcting operational inefficiencies to improve the center’s performance. With these adjustments and an investment in complementary capital improvements, we know the property is ideally positioned to serve the Sabre Springs and Poway communities for many years to come,” said Ira Schwartz, COO of Capstone Advisors…(Read More)
Capstone Advisors Acquires Retail Center In Phoenix, Arizona
CARLSBAD, California – September 9, 2019 – A Capstone Advisors affiliate has acquired 18,037 square feet of shop space located within Tuscano Towne Center in southwest Phoenix, Arizona. The full 250,331 square-foot property is located on the southwest corner of W. Lower Buckeye Road and S. 75th Avenue in the Tuscano master planned community.
The property becomes Capstone’s fifth commercial asset in Phoenix and the firm’s fourth acquisition in the past 12 months. “Capstone is excited to add to its holdings in Phoenix. Tuscano Towne Center is located in one of Phoenix’s fastest growing submarkets. It has an excellent mix of local, regional and national brands who thrive due to the property’s location and the adjacent Walmart Supercenter. We are very pleased to add this great asset to our portfolio,” said Ira Schwartz, COO of Capstone Advisors… (Read More)
Reno, the Next Hotspot for Retail Development
Capstone Advisors has identified the Reno market in Nevada has a target for new retail construction. Like nearby Las Vegas, Reno has also experience economic and population growth, and now has a pent-up demand for retail and services. Capstone has already broken ground on the first retail building on an undeveloped parcel of Sky Vista,but it could be the beginning of several projects for the San Diego-based developer… (Read More)
11,000 sq. ft. Retail/Dining Space Breaks Ground at Sky Vista in North Valleys
RENO, Nev. — Capstone Advisors announced this week crews recently broke ground on the firm’s first retail component at the Sky Vista development project in the North Valleys area of Reno. According to an Aug. 13 press release from the Carlsbad, Calif.-based real estate investment and development company, the future building will feature 10,899 square feet of mixed retail space, including an available restaurant footprint with an outdoor patio.
Sky Vista at North Valleys consists of a 1.91-acre pad site immediately adjacent to the existing Walmart Supercenter — which opened in 2012 at 250 Vista Knoll Parkway — and a nearly 96-acre parcel of adjacent land entitled and planned for residential, retail and industrial development. (Read More)
Capstone Buys Encinitas Retail Center
Connect California – Carlsbad, CA-based Capstone Advisors acquired El Camino Square Shopping Center in Encinitas, CA from US Financial, LP for $12.2 million. The 27,499-square-foot property is located at 191 N. El Camino Real in the heart of Encinitas’ retail corridor…Read More
Capstone Advisors Acquires Retail Center in Encinitas, California
CARLSBAD, California – May 24, 2019 – Capstone Advisors has acquired El Camino Square Shopping Center in Encinitas, California for $12.2 million. The 27,499 square-foot property is located at 191 N. El Camino Real, on the busy northeast corner of El Camino Real and Via Molena, in the heart of Encinitas’ retail corridor.
The property becomes Capstone’s ninth commercial asset in San Diego County and the firm’s third acquisition in the past eight months. “El Camino Square is a great addition to our existing San Diego real estate portfolio. The property is located in one of the strongest and most dynamic retail submarkets in San Diego County. We look forward to implementing our plan to improve the condition of the property and contribute to the success of its tenants. We are very pleased to add this great asset to our portfolio,” said Alex Zikakis, President and CEO of Capstone Advisors…(Read More)