Evanston Now
Quick exit sought by current owners.
The owners of the Church Street Plaza development in downtown Evanston have listed it for sale.
The listing from CBRE indicates the owners are seeking a quick sale of the property, with initial bids due by May 27.
With the recent closure of the Century Theatres, the plaza is just 50% occupied, according to the broker’s information, which claims, “The ability to re-lease and re-position the asset presents a unique opportunity to acquire a premier retail asset at a fraction of its former basis and create significant incremental value.”
The complex includes three buildings with a total of over 179,000 square feet of space.
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Resident Nick Anderson (Weinberg ‘19) said Evanston’s Century 12 movie marked the “halcyon age” of his college life.
He said his most prominent memories at Century 12 were not of sitting in vivacious rooms with animated moviegoers, but of more intimate connections the theatre facilitated with friends.
“I remember being there to see ‘Call Me by Your Name’ and crying with a friend of mine sitting next to me in the movie theatre,” he said. “It was really cool to see how the Northwestern community was experiencing these cultural moments together.”
Century 12 announced it would shut down indefinitely last March at the pandemic’s onset. But as time drug its feet first March, then summer, fall and finally winter coronavirus lockdowns stayed planted and revenues stalled. Finally, the Evanston RoundTable reported last week the downtown theatre was closing, permanently.
1 Viper Way
Photo courtesy of RPG
RPG based in Encinitas in partnership with CenterSquare based in Pennsylvania has acquired a Vista industrial building for an undisclosed price with plans to renovate it.
Built in 1999, the vacant 203,000 square-foot building at 1 Viper Way was sold by Stockbridge Capital Group of San Francisco.
Aric Starck and Bill Cavanagh with Cushman & Wakefield represented Stockbridge.
Planned improvements include adding nine new dock-high doors along with five new grade level doors. The JV partnership also plans to reduce the amount of office and mezzanine space to appeal to last-mile industrial users.
This acquisition is perfectly aligned with our niche approach to identifying, sourcing, repositioning, and developing exceptionally well-located, high-quality assets in the San Diego market, especially in North San Diego,” said Adam Robinson, founder and president of RPG.