Wohl purchased the two centers, Westport Plaza and 17th Street Promenade, in 2001. The company then spent $2 million renovating the centers, Westport Plaza and 17th Street Promenade, which total 83,693 sf in five buildings. The work included new facades, parking lot resurfacing, landscaping upgrades and enhanced tenant and monument signage for the properties. Westport Plaza is now fully leased and includes the Plums Cafe, while 17th Street Promenade is approximately 90% leased with Mi Casa Restaurant, AT&T Wireless, Super Cuts and Where's the Party among its tenants.
The new financing for the centers is a 10-year fixed rate loan at highly competitive terms, according to Tim Hawthorne and Jared Rogers, who advised Wohl in the capital markets.
Buchanan Capital Advisors is a division of Newport Beach-based Buchanan Street Partners, a real estate investment bank that also makes principal investments through its Buchanan Capital Partners division.
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