Wednesday, January 03, 2007

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The Retail PageDecember 27, 2006 – Tucker Keeps Whizin Along Article Date: 12/27/06

Full Story: Tucker Investment Group has purchased Whizin Shopping Center, an 85k sf mixed-use open-air lifestyle center (okay, a really large strip center) in Agoura Hills. The property, located on 2.73 acres at 28912 Roadside Dr, adjacent to the 101 Fwy along Canwood St, traded for $26 mil ($306/sf). The Whizin Shopping Center is comprised of a collection of small specialty retailers and an indoor event venue, The Canyon Club. "The Whizin Center is located in the heart of the Agoura Village project, an area that the City of Agoura Hills has marked for revitalization and beautification. It is well-positioned for future integration into the Agoura Village Specific Plan as a community focal point," explained Michael Ross, Managing Director for Colliers Investment Services Group (CISG) and partner of the Ross-Cordova Investment Team. According to Fred Cordova, the City of Agoura Hills is a highly desirable market with strong demographics. "The Agoura Village Specific Plan is designed to create a welcoming pedestrian-friendly atmosphere that captures the character of Agoura Hills." Along with Ross and Cordova, John DeGrinis and Steve Nanino, also of Colliers International, represented the seller, the Whizin Foundation, in the transaction. Tucker Investment took care of its own negotiations in the deal. The Whizin Foundation, a support foundation at the Jewish Community Foundation in Los Angeles, is devoted to efforts to building three pillars of the Jewish future, family, synagogue and community. Established in 1989, the Whizin Foundation began its work by sponsoring the Whizin Institute for Jewish Family Life, an academic institute devoted to research, training and dissemination in the emerging field of Jewish family education.