El Segundo-based CorAmerica Capital announced today that it has acquired Nordhoff Plaza, at the corner of Nordhoff Street and Tampa Avenue, in Northridge. The total project capitalization is approximately $90 million. The 254,000-square-foot center is anchored by Best Buy, Bed Bath & Beyond, Total Wine and More, Fresh & Easy, Office Max, and 24 Hour Fitness. The shop space in the center is currently 50 percent leased. “This is a perfect opportunity to acquire a sizable infill retail project in a high-density submarket, with upside, at an attractive price,” said Bill Petak, managing principal at CorAmerica, in a prepared statement. “CorAmerica plans to enhance property value with an immediate capital improvement, leasing and merchandizing program.” CorAmerica has retained Austin Bettar and Peter Kay of Wilson Commercial to oversee leasing of the available retail spaces. “We are proud of our association with CorAmerica and look forward to applying our institutional project leasing experience in the trade area to the marketing of Nordhoff Plaza,” said Bettar in a prepared statement. Wilson Commercial manages several large retail centers in the Valley area, including The West Village in Agoura Hills, The Burbank Collection in Burbank, and the Northridge Grove Shopping Center, which is located across the street from Nordhoff Plaza. Kelly Goff
