Approximately 90% leased, Winterwood Pavilion was built in 1990on 16.44 acres at the northeast corner of the intersection. It isanchored by a Vons supermarket, which is owned and operated bySafeway, Inc., and Aaron Rents. The center has a mix of nationaland regional credit tenants including Carl's Jr., Panda Express,Little Caesar's Pizza, Washington Mutual and Blockbuster Video.

The property's in-place NOI is $1.4 million and the pro formaNOI is $1.7 million, according to the offering memorandum. Theanchor tenant rents (Vons and Aaron Rents) average $7.09 per sf andshop tenant (5,000 sf or less, excluding outparcels) rents average$16.80 per sf, according to the OM.Kimco officially acquired theproperty as part of its 2006 acquisition of Pan Pacific Properties.BPG senior vice president Elizabeth Owens says it acquiredWinterwood at below replacement cost.

Reza Etedali and Aaron Bettencourt of Reza Investment had thedisposition assignment. CB Richard Ellis is managing the propertyfor BPG. Nelson L. Tresslor of Grubb and Ellis is the exclusiveleasing agent.