Retail

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.

TEMECULA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a newly delivered retail property located at 29920 Temecula Parkway in Temecula. An Irvine-based private developer sold the asset for $13 million. Completed earlier this year, the 37,000-square-foot property is situated on 3.7 acres with frontage on Temecula Parkway. LA Fitness occupies the single-tenant property on a net-lease basis. The asset is an anchor to The Gateway to Temecula, a lifestyle center that contains approximately 61,000 square feet of commercial space, including Starbucks Coffee, Chevron, Verizon Wireless, The Pizza Press and a 4,000 square feet of office space. Austin Blodgett and Eric Wohl of Hanley Investment represented the seller, while Corona-based R&L Properties-Cerritos represented the buyer in the transaction.

OCEANSIDE, CALIF. — Lucas Revocable Trust has purchased a retail property, located at 4180 Avenida De La Plata in Oceanside. Plata Property LLC sold the building for $4.4 million. Navy Federal Credit Union occupies the 6,788-square-foot retail building, which was built in 1992 and is situated within Rancho Del Oro business park. The tenant recently renewed its lease for an additional 10 years, extending the term through May 2028. Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County represented the seller, while HC&M Commercial Properties represented the buyer in the deal.