DRA Advisors sold the Esplanade Shopping Center in Oxnard for $90 million, about 5% less than the $95 million they paid in 2018. The property was acquired by Primestor Development for $252 a square foot, with a 94% leasing rate and key anchors like Home Depot and Nordstrom Rack.
Primestor sees potential in the Oxnard mall and its value-add opportunities. Meanwhile, DRA Advisors have been focusing on divesting some of its properties, including selling a Los Angeles office campus last year for $171 million.
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