November 14, 2016
Colliers International negotiated the $19-million sale of Oak Creek II Shopping Center, a grocery-anchored, neighborhood retail center in Wildomar, CA. The Albertsons shadow-anchored 71,899-square-foot property was sold by San Diego-based Strata Equity Group Inc. to an undisclosed, all-cash California investor.
Built in 2008, the center is located on 6.89 acres along the Miracle Mile Corridor, and is comprised of six separate parcels. The 96%-occupied center includes a mix of national credit tenants, local service retailers and national chain restaurants. The City of Wildomar occupies nearly all of a separate, two-story, 23,000-square-foot office building.
KW Commercial’s Mark El-Tine represented the buyer. Colliers International’s John Sharpe, Jereme Snyder and Eric Carlton advised the seller.
For comments, questions or concerns, please contact Dennis Kaiser