
Press Releases
The Ivanhoe
Capstone Advisors Adds Lotte Plaza Market To Olde Towne Shopping Center
July 6, 2022
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.
Lotte Plaza Market, expected to open in 2023, will occupy the 45,268-square-foot space located at 7801 West Broad Street in Richmond, formerly leased by Stein Mart. The market, a premier source for Asian groceries in Maryland and Virginia, will include a food court offering Korean, Japanese and Chinese dishes. Other key tenants in the Olde Towne Shopping Center include Buffalo Wild Wings, Cycle Gear, Tasty Crab and Junoon Indian Cuisine. Read the Full Release.
Capstone Advisors Secures $20 Million In Financing For Two Flex Space Buildings In Phoenix Area
April 6, 2022
Phoenix, Ariz. – April 6, 2022 – Southern California-based firm refinances Galveston Tech Center and Workspace Tempe – Capstone Advisors, a diversified real estate investment, development, and advisory firm, has secured a $9.17 million refinancing loan for the 74,525 square-foot Galveston Tech Center and a $10.57 million refinancing loan for the 88,000 square- foot Workspace Tempe.
The California-based company recently celebrated its 25-year anniversary and has an impressive history of acquiring, operating, and developing multi-tenant office, industrial and retail shopping centers, as well as large scale residential and commercial land projects throughout the Western United States. Read the Full Release.
Capstone Advisors Completes $2 Million Renovation of El Camino Square
March 24, 2022
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Advisors, celebrates the completed renovation of El Camino Square after an eight-month project to modernize the outdated building and better complement the style of neighboring Encinitas properties.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.
Capstone Advisors Acquires Residential Land Parcel In Riverside County
March 3, 2022
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.
Capstone Advisors Donates $75,000 to Local Charities in Celebration of Their 25th Anniversary
January 13, 2022
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.
Capstone Advisors Marks 25 Years with Donations to Local Charities
November 30, 2021
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)
Capstone Advisors Acquires Galveston Tech Center in Phoenix Area’s Corporate Epicenter
August 2, 2021
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.”
July 6, 2021 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)Capstone Advisors Announces Disposition of Phoenix Salad and Go Restaurant for Record $3.7 Million, 60 Finished Residential Lots in New La Quinta Community
Capstone Advisors Sells Retail Center In San Diego, California
September 10, 2019
CARLSBAD, California – September 10, 2019 – Sabre Springs Plaza, a 15,038-square-foot retail center located at the intersection of Poway Road and Springbrook Drive in the Sabre Springs community of San Diego, was sold by an affiliate of Capstone Advisors for $6.8 million to a Southern California-based private investor. Sabre Springs Plaza had been owned and operated by Capstone Advisors since the firm acquired the property in 2015. Sabre Springs Plaza was the second retail center sale in the past 14 months for the Carlsbad-based real estate firm.
“We are pleased to have successfully executed our business plan for Sabre Springs Plaza, which included correcting operational inefficiencies to improve the center’s performance. With these adjustments and an investment in complementary capital improvements, we know the property is ideally positioned to serve the Sabre Springs and Poway communities for many years to come,” said Ira Schwartz, COO of Capstone Advisors…(Read More)
Capstone Advisors Acquires Retail Center In Phoenix, Arizona
September 9, 2019
CARLSBAD, California – September 9, 2019 – A Capstone Advisors affiliate has acquired 18,037 square feet of shop space located within Tuscano Towne Center in southwest Phoenix, Arizona. The full 250,331 square-foot property is located on the southwest corner of W. Lower Buckeye Road and S. 75th Avenue in the Tuscano master planned community.
The property becomes Capstone’s fifth commercial asset in Phoenix and the firm’s fourth acquisition in the past 12 months. “Capstone is excited to add to its holdings in Phoenix. Tuscano Towne Center is located in one of Phoenix’s fastest growing submarkets. It has an excellent mix of local, regional and national brands who thrive due to the property’s location and the adjacent Walmart Supercenter. We are very pleased to add this great asset to our portfolio,” said Ira Schwartz, COO of Capstone Advisors… (Read More)
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