Investment firm Capstone Advisors has purchased retail centers in San Diego and Poway in separate transactions for a total of $10.8 million, the Carlsbad-based company announced.
Acquired were the 15,038-square-foot Sabre Springs Plaza, at 11385-11395 Poway Road in San Diego, for $4.55 million; and the 25,754-square-foot Poway Valley Center, at 13314-13348 Poway Road in Poway, for $6.25 million.
The properties were sold by entities recorded as Sabre Springs Plaza LLC and PVC LLC, respectively, according to CoStar Group and public data.
Capstone officials said the Sabre Springs property is anchored by 7-Eleven, and the investment firm plans improvements including new painting, landscaping, parking lot and lighting upgrades. Similar renovations are planned at the Poway center, with improvements to store fronts and traffic flow.
The seller in the Sabre Springs deal was represented by Pat Toomey and Kyle Mathews, of brokerage firm Colliers International. John Jennings and Rob Ippolito, of brokerage firm Cushman & Wakefield Inc., represented Capstone and the seller in the Poway transaction.
Led by CEO Alex Zikakis and started in 1996, Capstone Advisors is a real estate investment, development and advisory firm focused on various types of commercial properties, with recent retail acquisitions targeting the West Coast.