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.
Capstone Advisors Announces Disposition of Phoenix Salad and Go Restaurant for Record $3.7 Million, 60 Finished Residential Lots in New La Quinta Community
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)
More Bankrupted Companies Opted For Reorganization, Not Liquidation, in 2020
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.
Strong Recovery In the Forecast
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.
Corporate Bankruptcies End 2020 at 10-Year High
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.
What Is in Store for Retail Next Year?
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 Keeps Healthy Retail Leasing Retail in 2020
GlobeSt.com – The investor remained adaptable focused on retaining and renewing existing tenants as well as attracting new tenants. Capstone Advisors has managed to maintain strong leasing activity in its retail portfolio this year, despite business closures and stay-at-home restrictions during the pandemic… Read the Full Feature.
The Pandemic Has Created a Bifurcated Retail Market
GlobeSt.com – COVID-19 is an unusual virus. For some, symptoms are mild or even non-existent and for others, it is deadly. The pandemic has hit retailers in a similar way. This year has brought massive retail bankruptcy announcements and closers along with success stories. While daily needs retailers, like grocery stores and pharmacies are the most obvious beneficiaries of the pandemic, but other retailers have managed to find solutions too.
“Capstone, however, doesn’t see the pandemic eliminating retail, and some of the shopping trends during the pandemic have supported that. “We are big believers in the necessity of physical retailers,” says Zikakis…Read the Full Feature.
Retail, Other Asset Classes Find Ways to Weather Pandemic
San Diego Daily Transcript – Most retailers have been hit hard by the pandemic, but the president and founder of Capstone Advisors said the story is a very uneven one. Some tenants, by the nature of their business, have had a very hard time due to the restrictions imposed to help stop the spread of the coronavirus.
“Examples are gyms and personal fitness studios, nail salons, and large format indoor restaurants,” said Alex Zikakis, who responded to a series of email questions about the state of retail and other asset classes…..Read the Full Feature.
Commercial Leasing Strategies During a Pandemic
Western Real Estate Business – The last eight months have been challenging for property owners trying to attract and retain tenants, but leasing success is possible right now. The first step to achieving this is to maintain a diverse portfolio, which may include retail, industrial and office. Retaining and renewing existing tenants should always be a priority, as should attracting new tenants that have businesses performing well during the pandemic…Read the Full Feature.
