Carlsbad, Calif. – August 2, 2021 – Capstone Advisors, a diversified real estate investment, development, and advisory firm, has announced the acquisition of the 74,525 sqft. Galveston Tech Center in Phoenix. The Galveston Tech Center, located in Chandler, Arizona – the heart of the Phoenix metro area and a sought-after corporate hub – was purchased at 92% occupancy, with Fortune 5 healthcare company CVS Health and semiconductor tech firm Qorvo included in the list of impressive tenants.
“We’re pleased to add Galveston Tech Center, an ‘as-good-as-it-gets’ multi-tenant industrial/flex asset in the dynamic west-Chandler market,” said Alex Zikakis, president of Capstone Advisors. “West Chandler is the heart of the Silicon Desert, with excellent demographics, strong growth, and home to a wide collection of corporate tenants. We enjoyed working on another acquisition with Steve Lindley of Cushman and Wakefield and look forward to continuing to add to our Phoenix-area portfolio.” Share this post: Shopping Center Business – Carlsbad, Calif.-based Capstone Advisors has completed the disposition of a single-tenant building located within Ahwatukee Foothills Towne Center in Phoenix. A Nevada-based investor acquired the asset for $3.7 million. Salad and Go occupies the property under an absolute triple-net, 20-year ground lease. The restaurant opened for business at the newly constructed building in mid-June. Chris Hollenbeck and Shane Carter of Cushman & Wakefield represented Capstone in the deal. Read the Full Feature. REBusiness Online – Carlsbad, Calif.-based Capstone Advisors has completed the disposition of a single-tenant building located with Ahwatukee Foothills Towne Center in Phoenix. A Nevada-based investor acquired the asset for $3.7 million. Salad and Go occupies the property under an absolute triple-net, 20-year ground lease. The restaurant opened for business at the newly constructed building in mid-June. Chris Hollenbeck and Shane Carter of Cushman & Wakefield represented Capstone in the deal. Read the Full Feature. The Daily Transcript – Carlsbad-based Capstone Advisors on Tuesday announced the sale of a residential project in La Quinta, Calif., and a Salad and Go restaurant in Phoenix. Capstone sold Piazza Serena, a residential land asset in La Quinta with 60 finished lots, for $9 million to Richmond American Homes. Capstone was represented in the sale by Marc Kleiman of Province West. Piazza Serena offers expansive views of the surrounding Santa Rosa Mountains and has lot sizes averaging one quarter acre. “We’re pleased to continue our partnership with Richmond American Homes through another successful land transaction,” Mark Hayden, vice president of development at Capstone Advisors, said in a statement. Read the Full Feature. San Diego Business Journal – Capstone Advisors based in Carlsbad has sold a development site in La Quinta and a drive-through restaurant in Phoenix. The 60 finished lots of Piazza Serena were sold for $9 million to Richman American Homes…Capstone Advisors was represented by Marc Kleiman of Province West in the Piazza Serena transaction. Chris Hollenbeck and Shane Carter of Cushman & Wakefield represented Capstone Advisors in the restaurant sale. Read the Full Feature. Carlsbad, Calif. – July 6, 2021 – Capstone Advisors, a diversified real estate investment, development, and advisory firm, has completed the disposition of two properties in its portfolio, closing on consecutive days the sale of a Salad and Go location in Phoenix and a residential project in La Quinta, Calif. Capstone Advisors announced the sale of the Salad and Go location at 4716 E. Ray Road in the retail hub at Ahwatukee Foothills Towne Center in Phoenix. Construction was recently completed on the new, single-tenant building, and the restaurant opened for business in the Target-anchored shopping center in mid-June. The property is an absolute NNN 20-year ground lease, and the buyer is a Nevada-based investor who completed a 1031 exchange with purchase of the property. The sale price was $3.7 million, a record price for a Salad and Go. Additionally, Capstone Advisors announced the sale of Piazza Serena, a residential land asset in La Quinta, Calif. for $9 million. The 60 finished lots were sold to Richmond American Homes, a homebuilder with operations in 10 states. Located within the PGA West corridor on the west side of Monroe Street just south of Airport Boulevard, Piazza Serena offers expansive views of the surrounding Santa Rosa Mountains and lot sizes averaging one quarter acre…(Read More) GlobeSt.com – “There will be continued retail bankruptcies and store closures in 2021,” Alex Zikakis, president and founder of Capstone Advisors, told GlobeSt.com in an earlier interview. “Many of the bankruptcies and store closures will be in the categories that were already in decline, such as department stores and apparel, but will also temporarily affect service and entertainment categories such as sit-down restaurants, fitness, and group entertainment venues.” Read the Full Feature. San Diego Business Journal – North County [San Diego] is as desirable as it’s ever been…As the vaccines continue to be rolled out, we’re going to see a huge rush into retail consumption.” – Alex Zikakis. Look for 2021 to be a strong year for economic development in North County, according to economists, real estate brokers and economic development professionals… Read the Full Feature. GlobeSt.com – In all, 630 companies declared bankruptcy during the year…“Many of the bankruptcies and store closures will be in the categories that were already in decline, such as department stores and apparel, but will also temporarily affect service and entertainment categories such as sit-down restaurants, fitness, and group entertainment venues.” Read the Full Feature. GlobeSt.com – Bankruptcies and store closures will hit department stores and apparel retailers, but service and entertainment retailers won’t be exempt…“There will be continued retail bankruptcies and store closures in 2021,” Alex Zikakis, president and founder of Capstone Advisors, tells GlobeSt.com. Read the Full Feature.Capstone Advisors Sells Salad and Go-Occupied Restaurant Building in Phoenix for $3.7 Million
Capstone Advisors Sells Salad and Go-Occupied Restaurant Building in Phoenix for $3.7M
Capstone Sells Assets in La Quinta, Phoenix
Capstone Advisors Sells Land and Restaurant
Capstone Advisors Announces Disposition of Phoenix Salad and Go Restaurant for Record $3.7 Million, 60 Finished Residential Lots in New La Quinta Community
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