Investec raises $130 million for acquisition of West Coast retail
Santa Barbara, Calif. — Investec announced it has raised $130 million for acquisition of grocery- and drug-anchored centers located in the coastal region of California.
Investec currently owns and manages over two million sq. ft. and $650 million of shopping centers in California.
According to Ken Slaught, Investec’s founder and president, “Investec will continue its focus on best-in-class neighborhood shopping centers, anchored by dominant grocers and pharmacies."
In February 2010, Investec acquired a 100,000-sq.-ft. Ralphs and CVS/pharmacy-anchored center, The Plaza at Sunbow in San Diego, for $21 million. In October 2009, Investec completed the development of Gene Autry Plaza, a new $17.5 million, 60,000-sq.-ft. shopping center in Palm Springs, Calif., and celebrated the grand opening of the first ground-up Smart & Final Extra! store in California. The center also includes Staples and 11,500 sq. ft. of shop space.
Publix to open at Aloma Shopping Center
Winter Park, Fla. — Orlando, Fla.-based Crossman & Co. said that Publix will open a new store at Aloma Shopping Center, in Winter Park, Fla., on Nov. 18.
The original store was demolished last April and the newly constructed store has been expanded by more than 5,000 sq. ft. The new 47,000-sq.-ft. facility includes a liquor store.
Crossman & Co. has been overseeing the redevelopment of the property and handles the leasing and management at the shopping center.
Other shops at the center include the Aloma Cinema Grill, Pet Supermarket and Fedex/Kinko’s.