SoCal Investor Snaps Up Peoria Mixed-Use Property For $34M
San Diego-based CIRE Investments acquired the 46-acre Park West in Peoria for $34.4M from Park West LCC. The recently completed property at Loop 101 and Northern Avenue is anchored by a 14-screen Harkins Theatre, and includes other entertainment venues, restaurants, standard retail and commercial space. The property offered an opportunity to buy in "a region experiencing exceptional growth," said Cushman & Wakefield's Greg Valladao.
Tenants include Flemings Steakhouse, BJ’s Brewhouse, Grimaldi’s Pizza, Victoria’s Secret and Vivaldi Salon. The property includes an additional 18 acres of development land. Excluded from the sale, but within the 74-acre Park West site, is the 260-unit Vue Park West apartments. Valladao, along with colleagues Brad Douglass, Chris Hollenbeck and Sean Lieb, and in partnership with the Howard Hughes Corp, repped the seller.
