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Adler Realty Investments forms joint venture with LLJ Ventures to acquire 400,000 Square-Foot Office Tower in Dallas, Texas
Agoura Hills, CA (April 2012) – Adler Realty Investments announced today the sale of its newly developed Shops at Oak Creek in Agoura Hills, Calif. The Trader Joe’s anchored project was sold for $590 per square foot.
Adler had completed construction last year on the five building, 36,182 square foot, center which was 100% occupied when sold. The Shops at Oak Creek is located on Canwood Street, adjacent to 101 freeway at the Kanan Road interchange. The shopping center is quite successful and has become a favorite gathering place for local residents who enjoy the variety of retailers and outside dining environment.
In addition to Trader Joe’s, tenants include Panda Express, The Habit, Jinky’s, Sotheby’s, Freebird World Burrito, Stone Ground Bakery, Urban Café, Verizon, Savvy Beauty & Salon, and the Olive Vineyard. “We are excited with the outcome of this project, the architectural design, and the success that the tenants are having,” said Michael Adler, President of Adler Realty Investments. Matthew May of May Realty Advisors represented seller and buyer in the sale.