Press Releases

South Jordan, Utah – June 28th, 2024 – Capstone Advisors, a diversified real estate investment, development and advisory firm headquartered in Carlsbad, California, expands its portfolio with the purchase of the Trail Crossing Shopping Center in South Jordan. 

The acquisition of the retail center, located at 5414 W. Daybreak Parkway, officially closed on June 28. The seller, Wright Development Group, constructed the shopping center in 2017. The property is 38,397 square feet of retail shopping space spanning five buildings. Currently, at full capacity, the center is anchored by Smith’s Food and Drug, a grocery subsidiary of The Kroger Co., along with a diverse array of national, regional, and local tenants providing essential goods and services. Read Full Press Release

La Quinta, Calif. – June 19th, 2024 – Carlsbad-based real estate investment and development company Capstone Advisors has closed the sale of Griffin Ranch Estates, 37 half acre lots in the Griffin Ranch community, located in La Quinta, California. 

Capstone Advisors sold the land to Toll Brothers, a high-quality production home builder with over five decades of experience and builds in 24 states nationwide. Marc Kleinman of Province West handled the sale. The project engineering services were provided by MSA Consulting, Inc. The sale closed on June 11. Read Full Press Release

Richmond, Va. – May 7, 2024 – Offering an unparalleled array of Asian culinary delights and a food court with a fresh bakery, boba tea and both Korean and Japanese dishes, Lotte Plaza Market, a premier source for Asian groceries, is aiming to make a significant mark on the Richmond community with its upcoming grand opening and ribbon cutting on Friday, May 10, at 8:30 a.m.

Located at 7801 W Broad St. Richmond, VA 23294, Lotte Plaza Market will be offering unique discounts and perks to all grand opening attendees that will not be available at other locations, including grand opening deals on grocery items from fruit drinks to sushi rice. In addition, Lotte Plus Rewards members will earn double the points from their purchases at this location from May 10 to June 6. Read the Full Release.

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.

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.

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.