PEORIA, AZ-San Diego-based Excel Trust Inc. has acquired Lake Pleasant Pavilion Shopping Center situated in Peoria for $41.75 million. Los Kornwasser Shopping Center Properties, an Angeles-based private development firm, was the seller.
This is the second acquisition in the Phoenix area for Excel. Earlier this year, Excel bought the Scottsdale Promenade shopping center for $166 million. Current occupiers in the center include BevMo, Bed Bath and Beyond, Marshalls and several others. Lucescu Realty brokered both deals. For the full story, go to Phoenix Business Journal .
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