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)