The shopping center, at the northeast corner of East PalomarStreet and Medical Center Drive, is anchored by Ralphs andCVS/pharmacy, along with a host of national retailers includingStarbucks, McDonald's, KFC and T-Mobile. Grant Harris, Investec'sdirector of acquisitions, says that Sunbow has performed very wellsince it was built in 2002 and that the Santa Barbara-based firm isconfident that the center will continue to thrive with the mix oftenants in place.

Sunbow was developed by Kitchell Development and has been thedominant neighborhood shopping center in its trade area. The centeris situated on 11 acres at the northeast corner of Medical CenterDrive and Palomar Street.

Kenneth Slaught, president of Investec, points out that despitethe reports of gloom and doom in the retail sector, all ofInvestec's existing grocery anchor tenants have shown salesincreases averaging 2.9% over the past 12 months. "Much of theadverse retail press has been focused on discretionary retail orthe woes affecting large niche chains," Slaught observes. He saysthat with the grocery and drug stores typically accounting forapproximately 60% of the rentable area of Investec's centers, "Weare confident that our gross sales increases will continue at allof our shopping centers."