Search
 

Dissolving REIT Sells Center Interest for $1.6M

LANCASTER, CA-Burnham Pacific Properties Inc. closes on the sale of its 29,000-sf interest in West Lancaster Plaza-Phase III, a 160,000-sf shopping center. The Company sold its interest to Safah Capital LLC.

By Peter Landau | Updated on May 03, 2002

LANCASTER, CA-Burnham Pacific Properties, Inc. has announced that it has closed on the sale of its interest in West Lancaster Plaza-Phase III, a 160,000-sf retail center. The Company sold its 29,000-sf interest in the center to Safah Capital LLC for approximately $1.6 million.

The center is located on Ave. L and 30th St. W., one mile west of the Antelope Valley Freeway (Highway-14). The 159,578-sf market and drug retail center is anchored by Stater Bros. Market. Other major tenants include Blockbuster Video, with 5,700 sf; the Trailblazers Café and Grill, with 3,180 sf; and the Mojave Chiropractic Center, with 2,564 sf. The site was built in 1988 and features parking for 249 cars. Traffic count for the retail center is an average of 40,500 cars daily.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.