Investec Real Estate Acquires The Esplanade Shopping Center in Oxnard, California
OXNARD, CALIF. — Investec Real Estate Cos., in partnership with DRA Advisors, has purchased The Esplanade Shopping Center. The retail center is situated on 31.4 acres on the southeast corner of North Oxnard Boulevard and the 101 Freeway in Oxnard. The acquisition price was not released.
Redeveloped in 2002 from an enclosed mall into an open-air center, the regional power center features 356,864 square feet of retail space. Tenants include Dick’s Sporting Goods, Walmart Neighborhood Market, Bob’s Discount Furniture, Nordstrom Rack, TJ Maxx, Cost Plus World Market, Party City, Staples, Starbucks Coffee and In & Out Burger.
At the time of sale, the property was 93 percent occupied with only one vacancy, a 25,000-square-foot end-cap anchor space.
The buyers were self-represented, while Bill Bauman, Kyle Miller and Matthew Schwartz of NKF Capital Markets of Los Angeles advised the undisclosed seller in deal.