Shopping Centers : Development Rising in Canyon Country
Sierra Plaza, a $9-million shopping center, is being built at Sierra Highway and Soledad Canyon Road in Canyon Country.
English & Continental Property Group is developing the single-story, 53,000-square-foot project, expected to be completed with the help of Associated Design Consultants next spring.
Ground Breaking Set
Ground breaking is scheduled for early fall on Colony Plaza, an $8.8-million shopping center that will be anchored by Von’s Supermarket when it is completed next spring on the northwest corner of Regents and Arriba streets in the University Towne Centre area of La Jolla.
Pacific Development Group of Newport Beach is developing the 72,645-square-foot project, which is being designed by Edward L. Ormen, AIA, Architecture and Planning.
Work Under Way
Ground has been broken for a $3-million expansion and extensive remodeling of Canyon Center, a 15-acre Canyon Country complex owned and developed by Forest & Co. of Sherman Oaks.
The expansion will include five additional buildings totaling 50,000 square feet, to be constructed in stages, with final completion scheduled for this fall. When completed, the center will have a total gross leasing area of 250,000 square feet.
Project Completed
Grand View Plaza, a $2.5-million retail center, is due to be completed Tuesday on the northeast corner of Washington Place and Grand View Boulevard in West Los Angeles.
Benco Development Group of Long Beach is developer of the 8,080-square-foot project, designed by Associated Design Consultants.
Mortgage Negotiated
The Phoenix regional office of the Abacus Real Estate Finance Group has negotiated a $2.45-million permanent mortgage for the El Monte Shopping Center, a three-building complex with a total of 74,233-square-feet of net rentable floor space completed last February in Phoenix.
Complex Started
Work has begun on a $10-million, 171,000-square-foot shopping center on a 16-acre Ridgecrest site owned by Robert Kirchmeier. Maxwell Starkman & Associates of Los Angeles is designing the center, which is being developed and leased by Baron, Kalof & Ryan of Los Angeles.
Revitalization in Progress
The $2.24-million Hillside Village Shopping Center, designed by Sillman/Wyman & Associates, AIA of San Diego as “the first shopping center build in the El Cajon Boulevard area in 20 years,” is nearing completion in San Diego at 1901 El Cajon Blvd. The center is being cited as a “prime example of how the community is seeking to revitalize El Cajon Boulevard.”
Property Acquired
The MaceRich Co. of Santa Monica has acquired the 164,000-square-foot Bristol Shopping Center in Santa Ana for $10.75 million from the Century Partners Fund 72 partnership. MaceRich owns and manages six regional malls throughout California, including Lakewood Center and Panorama Mall in the Los Angeles area.
Award Given
The newly restored Ladera Center, a project of Ratkovich, Bowers & Perez of Los Angeles, was recognized with a 1984 Beautification Award for commercial remodeling from the Western Los Angeles Regional Chamber of Commerce.
The 25-year-old, 15-acre community shopping center at Centinela and La Cienega boulevards and La Tijera Avenue in Los Angeles, has been sold to First Chicago Investment Advisors for $19.7 million, through Coldwell Banker Real Estate Services, Beverly Hills.
Space 100% Leased
Broadway Village Shopping Center, a $3-million shopping center in Chula Vista, is now 100% leased, according to Daum Business Properties Brokerage Co., exclusive leasing agent for the 20,000-square-foot project.
