CP Investments Inc. acquired Lakeside Plaza, a shopping center anchored by a Vons grocery store. The property, which was purchased for $2.2 million, is located at 12403-12421 Woodside Ave. and is 95% occupied.
CP Investments specializes in the acquisition and development of grocery anchored strip shopping centers. The firm in April completed redevelopment of the 98,000-sf Santee Village, another Vons-anchored center on 10 acres at Olive Lane and Mission Gorge Road in Santee.
The Santee center has been re-tenanted with Wendy's Hamburgers, Kragen Auto Parts, Cingular Wireless, Papa Murphy's Pizza, H & R Block and Great Clips. Redevelopment of the property, which was purchased in October of 2000, began after demolition of the existing 30,000-sf retail center and AMC theaters.
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