(For more retail coverage, click GlobeSt.com/RETAIL.)
YUMA, AZ-A California group has stepped up for the 163,688-sfinline space to the 276,688-sf Wal-Mart Supercenter for $14.95million. The deal has slid in at just below the $15.53-million ask,closing at a 6.23% cap rate.
Royal Investors Group LLC of Los Angeles bought the fully leasedpower center from Pac Harbor Equities LLC from Malibu, CA followinga two-week marketing period. A source familiar with the transactiontells GlobeSt.com that the inline space includes 113,000 sf of theWal-Mart store as a result of an expansion in 2004. The center,constructed in 1991, is situated on 20 acres at 2900 S. PacificAve.
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