San Diego, CA – April 15th, 2024 – SAN DIEGO BUSINESS JOURNAL LEADERS of INFLUENCE in COMMERCIAL REAL ESTATE 2024: Alex Zikakis & Jay Matthes Read the Full Release.
Capstone Advisors Expands Arizona Portfolio with the Acquisition of Two Properties
Phoenix, AZ – January 17th, 2024 – Southern California-based real estate firm purchases Arizona retail and entertainment property and flex industrial building. Further expanding its extensive retail and industrial portfolios, Capstone Advisors, a diversified real estate investment, development and advisory firm headquartered in Carlsbad, California, has acquired an urban core retail and entertainment property in Tempe and a flex industrial building in Phoenix.
Conveniently located in the heart of Tempe’s Mill Avenue District near Arizona State University, at 420 and 501 S. Mill Ave., the retail and entertainment property consists of two buildings totaling 38,896 square feet and was purchased for $22.2 million. A popular nightlife hub in the metropolitan Phoenix area, the two buildings were fully occupied at the time of sale by retail, entertainment and dining tenants, including – Starbucks, Spinelli’s Pizza, Lotions & Potions, Bang Bang, Crispy Cones, Varsity Tavern, Rodeo Ranch and Low Key Piano Bar. “These two iconic buildings are located at the most dynamic intersection of the booming Tempe downtown market. The intersection of 5th Ave. and Mill Ave. has the highest pedestrian traffic in the city of Phoenix, and the entire area is in the midst of outstanding residential high-rise growth” said Alex Zikakis, president of Capstone Advisors. ‘Generational real estate’ is an overused term, but in this case, exactly sums up this acquisition.” Read the Full Release.
Capstone Advisors Announces the Successful Entitlement of the ‘Highlands’ Master Plan Community in Reno, Nevada
Reno, Nev. – January 23, 2023 – Capstone Advisors will develop the property located near U.S. Route 395 and Sky Vista Parkway for single-family residential, multi-family and commercial uses, adding much needed housing and additional retail and commercial uses to this rapidly growing region.
With a 27-year history of successfully acquiring and developing large-scale residential developments in the Western United States, as well as owning and operating multi-tenant retail shopping centers, industrial projects and office buildings throughout the nation, Capstone Advisors assembled the undeveloped land parcels in 2016 and 2022 due to its excellent location in the rapidly growing Lemmon Valley area of metro Reno. Capstone recently completed the first phase of the development with the construction of a fully leased 11,000-square-foot retail building, Sky Vista Village. Read the Full Release.
Capstone Advisors Marks 25 Years with Donations to Local Charities
Carlsbad, Calif. – Nov. 30, 2021 – Real estate investment, development, and advisory firm, Capstone Advisors marks its 25th anniversary with $75,000 in donations to nonprofit organizations chosen with input from its tenants in Arizona, California, Nevada, and Virginia.
The company, founded in November 1996, purchased its first property in April 1997 and has since owned and operated millions of square feet of commercial properties in 10 different states. Currently, its portfolio includes 22 commercial properties across four states, multiple large scale residential developments, over 1.3 million square feet of industrial development, and a significant land portfolio in two countries for future residential and resort development… (Read More)