Primestor Development Expands Retail Portfolio With The Acquisition of Esplanade Shopping Center in Oxnard, CA
Primestor Development (Primestor), a leading minority-owned and led real estate development and investment firm based in Los Angeles, has announced the $90 million acquisition of the Esplanade Shopping Center, a 357,000-square-foot grocery-anchored retail community center in the coastal city of Oxnard, CA.
- Primestor Development (Primestor), a leading minority-owned and led real estate development and investment firm based in Los Angeles, has announced the $90 million acquisition of the Esplanade Shopping Center, a 357,000-square-foot grocery-anchored retail community center in the coastal city of Oxnard, CA.
- View the full release here: https://www.businesswire.com/news/home/20240408316258/en/
“The Esplanade Shopping Center provides the opportunity to acquire a 94% leased, institutional-quality, necessity retail asset located in a high-traffic area with a favorable mix of cash flow stability and embedded value-add potential,” noted Lonnie Vidaurri, Chief Investment Officer of Primestor. - Other tenants include Cost Plus World Market, Tillys, Boot Barn, In-N-Out Burger, BJ's Brewery and Restaurant, and more.
- The company’s long-standing community engagement process is further underscored by its partnerships with local governments, community organizations, national credit tenants, and local stakeholders.