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Westcore Adds to Poway Holdings

SAN DIEGO-In addition to their recent $8.4-million acquisition of the Poway Plaza retail asset, Westcore and a joint venture partner have picked up an LA Fitness facility located within the shopping complex. The transaction is valued at $7.4 million.

By Erin Cassin | Updated on January 21, 2004

SAN DIEGO-Westcore Properties LLC of San Diego continues to grow its Poway portfolio, as a joint venture partnership involving the firm has picked up the LA Fitness facility that serves as an anchor tenant for the Poway Plaza shopping complex.

The buyers, Westcore Poway LAF LLC and New York-based Longwing Real Estate Ventures LLC, have shelled out $7.4 million for the asset, which stands on a 3.5-acre parcel at 12648 Poway Rd. Encompassing 40,567 sf, the property recently underwent a $1.5-million renovation that transformed it from a supermarket into a state-of-the-art fitness center that features a lap pool, sauna, and lockers, as well as indoor basketball, volleyball and racquetball courts.

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