The fully occupied, 120,000-sf Plaza II includes Sportmart, Babies "R" Us and Cost Plus World Market. Last year, Opus West sold the first phase to Investor Realty Advisors of Texas.
Opus West says it plans to use the proceeds of the sale of Plaza II to fund its new Northern California projects, including an auto mall-anchored development in Sacramento and a 200,000-sf office complex in the Stone Point business park in Roseville.
Opus West is also at work on the former Ryerson Steel Building in Emeryville that it acquired for $12 million. The building was a 167,000-sf single-story industrial building when Opus purchased it. Now it is history, after the company demolished it to clear the 4.8-acre site, on which it plans to build a 325-unit apartment complex. The company may break ground on the project as soon as next month.
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