J.H. Snyder Co. and Ezralow Co. sold Bella Terra in Huntington Beach, Calif., for $228 million to DJM Capital Partner Inc. The previous owners began transforming a decaying mall into an open-air lifestyle center. The redevelopment project will continue under the new owners.
Regency Centers opened an office in Chicago suburb Oak Brook. Heading up investments in the new office will be Nick Wibbenmeyer, who previously worked for Mid-America Real Estate Corp. He will be responsible for the leasing activities for all operating and development properties in the Chicago, Detroit and Minneapolis metropolitan areas.
Passco Real Estate Enterprises Inc. sold Lancaster (Calif.) Commerce Center to Cadence Capital for $45 million. The sale will give Passco funds to reinvest in regional malls, neighborhood centers and multi-family housing, says William Winn, president. Marcus & Millichap represented the buyer and seller.
Staubach Co. Retail's West launched a restaurant division to serve the real estate needs of local and national restaurants in Arizona, Utah, Nevada and New Mexico. Chuck Gibson, who previously worked for Bennigan's Steak and Ale and Boston Market, among other chains, will head up the new restaurant group out of Staubach's Phoenix office.