Press Releases

Carlsbad, Calif. – August 29th, 2023 – Both Properties Sold After a Decade of Ownership to Refocus Portfolio on Larger Assets. California-based Capstone Advisors sells My Florist Plaza, located in Phoenix, Arizona and The Shops at Wellesley in Richmond, Virginia with plans to redeploy capital into additional retail shopping centers.

My Florist Plaza, located at the intersection of 7th Ave. and McDowell Road in Phoenix, Arizona, is a 21,756-square-foot-square- center sold to L&B Realty Advisors, LLP for $10,500,500. The center was sold fully occupied, including corporate leases with Habit Burger, Potbelly Sandwich Shop, NYPD Pizza, and T-Mobile. The property is near several historic neighborhoods with 370,000 residents within a 5-mile radius.

The Shops at Wellesley, located at 3416-3470 Lauderdale Drive in Richmond, Virginia was sold to Liberty Investment Partners, LLC for $10.1 million. The 42,318 square-foot retail center was also fully occupied at the time of the sale, including 20 tenants with 4.1 years of weighted average lease terms remaining. The tenant roster is largely e-commerce-resistant users, with 23 of the gross leasable area (GLA) represented by medical tenants. Read the Full Release.

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.

Richmond, VA. – July 6, 2022 – Marking its first Richmond location, grocer Lotte Plaza Market will be the new anchor tenant of Olde Towne Shopping Center, the 91,494-square-foot shopping center owned and operated by Capstone Advisors, a diversified real estate investment, development and advisory firm.

Carlsbad, Calif – March 24, 2022 – Carlsbad-based firm celebrates the completed renovation of 27,499 square-foot shopping center in Encinitas retail corridor with ribbon-cutting ceremony – Diversified real estate investment, development and advisory firm, Capstone Advisors, celebrates the completed renovation of El Camino Square after an eight-month project to modernize the outdated building and better complement the style of neighboring Encinitas properties.

Capstone Advisors purchased the 27,499-square foot shopping center in 2019 for $12.2 million and began renovations in August 2021. Updates to the property include a renovated exterior façade with architectural treatments and contemporary finishes, landscape enhancements including all street frontages, new signage and upgraded energy-efficient LED parking lot and exterior building lighting. Electric vehicle (EV) charging stations will be added by the end of 2022. Read the Full Release.

Carlsbad, Calif. – March 3, 2022 – Diversified real estate investment, development and advisory firm has acquired 26.55 acres of land in Riverside County slated to hold up to 133 residential home lots. The land is located near the Winchester Ranch area within the Winchester Hills Specific Plan; immediately adjacent to the nearly completed Conestoga Master Plan community with 5,250 homes and a planned 33-acre regional sports park. Tangerine is Capstone Advisors’ most recent land holding in the area and is near another of their current residential projects, Indigo Trails, which is entitled for 104 residential lots. Read the full release.

Carlsbad, Calif – Jan. 11, 2022 – Investment Firm Donates to charities across Arizona, California, Nevada, and Virginia – In honor of the company’s 25th anniversary, Capstone Advisors donated $75,000 in total to the following local charities, chosen with input from its tenants and employees, including: American Business Women’s Association- Trendsetter Chapter Palm Desert; Arizona Helping Hands; Boys to Men; ChildFund International USA; For Kids Foundation; Family Services of the Desert; Friends of Scott Foundation; Live & Learn; Natural High; Patch Virginia; Presbyterian Frontier Fellowship; REACH; Safe Embrace; Saved Hands Foundation; Shalom Farms; St. Vincent de Paul Village, Inc.; Sunshine Acres; THE EIGHT; The National Alliance on Mental Illness in San Diego (NAMI San Diego); The Salvation Army; UPWARD; U Turn for Christ; Voices for Children and World Hunger Ecumenical Arizona Task Force, Inc. (WHEAT).  Read the Full Release.

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)

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.”

Capstone Advisors Announces Disposition of Phoenix Salad and Go Restaurant for Record $3.7 Million, 60 Finished Residential Lots in New La Quinta Community

July 6, 2021