{"id":1004080753,"date":"2013-07-24T15:06:24","date_gmt":"2013-07-24T23:06:24","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=153137"},"modified":"2022-12-05T18:45:38","modified_gmt":"2022-12-06T02:45:38","slug":"asb-blatteis-schnur-buy-trio-of-gaslamp-retail-properties-for-15-3m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/asb-blatteis-schnur-buy-trio-of-gaslamp-retail-properties-for-15-3m\/","title":{"rendered":"ASB, Blatteis & Schnur Buy Trio of Gaslamp Retail Properties for $15.3M"},"content":{"rendered":"

By Alex Girda, Associate Editor<\/em><\/p>\n

Joint-venture partners ASB Real Estate Investments and Blatteis & Schnur Inc. have acquired a trio of retail buildings in the Gaslamp Quarter for $15.3 million, the companies said on July 23.\u00a0ASB and Blatteis & Schnur bought the properties from Federal Realty Investment Trust, the Rockville, Md.-based REIT.<\/p>\n

Located at 643, 653 and 665 Fifth Ave. between G and Market Streets, the properties are fully leased to a roster that includes Urban Outfitters, Ghirardelli Chocolate Co. and The Lime, a popular restaurant. The assets expand the footprint of the ASB-Blatteis & Schnur partnership, which also owns properties in Los Angeles and San Francisco.<\/p>\n

Moreover, the acquisition marks the San Diego debut of ASB Allegiance Fund, a $2.7 billion vehicle focused on core assets in top urban markets.\u00a0 ASB Real Estate Investments\u2019 president & CEO, Robert Bellinger, explained in a statement that the Gaslamp \u00a0Quarter \u00a0\u201cperfectly meets the Fund\u2019s investment criteria for dynamic, urban infill markets that are well positioned to garner strong tenant demand over the long-term.\u201d<\/p>\n

Other recent acquisitions by ASB Allegiance Fund include Class A retail properties in New York City, Los Angeles, Miami, and Washington, D.C. The fund is an affiliate of ASB Capital Management L.L.C., which has $3.8 billion in assets under management on behalf of 180 institutional clients.<\/p>\n

 <\/p>\n

\n","protected":false},"excerpt":{"rendered":"

A trio of buildings recently traded hands in the city’s famed Gaslamp Quarter after ASB Real Estate Investments shelled out a fee of $15.25 million for the properties. The move is part of the company’s strategy to acquire investment-worthy properties in the country’s best shopping corridor. ASB purchased the three buildings in joint venture with Blatteis & Schnur on behalf of the company’s Allegiance Fund, from Federal Realty Investment Trust. The JV also partners in a number of other Californian properties in Los Angeles and San Francisco.<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1608],"tags":[],"class_list":["post-1004080753","post","type-post","status-publish","format-standard","hentry","category-latest","category-san-diego"],"acf":[],"yoast_head":"\nASB, Blatteis & Schnur Buy Trio of Gaslamp Retail Properties for $15.3M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/asb-blatteis-schnur-buy-trio-of-gaslamp-retail-properties-for-15-3m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASB, Blatteis & Schnur Buy Trio of Gaslamp Retail Properties for $15.3M\" \/>\n<meta property=\"og:description\" content=\"A trio of buildings recently traded hands in the city’s famed Gaslamp Quarter after ASB Real Estate Investments shelled out a fee of $15.25 million for the properties. 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