AREA PROPERTIES CHANGE OWNER : SAN DIEGO COMPANY SCOOPS UP LANCASTER SHOPPING COMPLEXES.Byline: Jim Skeen Daily News Staff Writer A San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. firm bought the Valley Central Shopping Center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into - Lancaster's largest shopping center - and a portion of the West Lancaster Plaza as part of a property portfolio acquired from Downey Savings. Burnham Pacific Properties Inc. bought the two Lancaster properties along with shopping centers in Sacramento and Ontario in a $51.75 million deal. Separate dollar values for the two Lancaster centers have not been determined. Valley Central, the largest property in the portfolio, covers 480,298 square feet of store space. The center, which has had an occupancy rate Noun 1. occupancy rate - the percentage of all rental units (as in hotels) are occupied or rented at a given time pct, per centum, percent, percentage - a proportion in relation to a whole (which is usually the amount per hundred) of over 95 percent for the last four years, includes Wal-Mart, Home Base, Circuit City, Staples staples U-shaped stainless steel or vitallium units with sharp points used for surgical fixation. epiphyseal staples used to staple epiphysis to metaphysis; have metal bracing at the corners. , Michael's, Marshall's and Cinemark Theaters. The Price-Costco building was not included in the acquisition. ``It's an awfully good center,'' said Daniel Platt, Burnham's chief financial officer. ``We like the center; we like the tenants.'' Burnham also acquired the 29,318-square-foot third phase of West Lancaster Plaza at 30th Street West and Avenue L. The third phase is anchored by Blockbuster block·bust·er n. 1. Something, such as a film or book, that sustains widespread popularity and achieves enormous sales. 2. A high-explosive bomb used for demolition purposes. 3. Video. The property is part of the larger 170,000-square-foot West Lancaster Plaza anchored by Albertson's. ``We are excited to announce the acquisition of this significant portfolio of anchored retail properties,'' said David Martin David Martin may refer to: Politicians
The other properties in the portfolio are the 97,434-square-foot Cameron Park Cameron Park is the name of several places: :
Burnham was founded in 1963. The company owns, develops and manages commercial real estate throughout California. CAPTION(S): Photo Photo: (color) The Valley Central Shopping Center in Lancaster was bought by Burnham Pacific Properties Inc. John Lazar/Special to the Daily News |
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