Flocke/Avoyer Say '98 Best In Its History

San Diego Daily Transcript

Flocke/Avoyer Say '98 Best In Its History

Flocke & Avoyer Commercial Real Estate has just celebrated its 13th and most successful year with 219 total transactions in 1998 grossing more than $254 million.

The company was founded in 1985 by Jim Flocke and Steve Avoyer and specializes in the retail real estate market.

Since its start, the company's principals and sales agents have completed more than 1,614 transactions valued at $41.3 billion.

The previous high-water mark for Flocke & Avoyer was 1996, when the company had 156 transactions with a gross value of $258 million. In 1997, although transactions rose to 201, the gross dropped to $142 million.

So far in 1999, the company reports 28 transactions with a gross value of more than $78 million

"Our growth and success is predicated by our team's steadfast commitment to the principles of hard work, technical expertise, market knowledge, focused specialization, long-term relationships with clients and unrivaled integrity," said the founding duo.

Among 1998's largest transactions were:

The $22.79 million sale of 21-acre, 182,000-square-foot University Square in east San Diego on University Avenue between 58th and 60th streets.
The 92,900-square-foot 6.3-acre Glasshouse Square Shopping Center at 3146 Sports Arena Blvd., San Diego, for $10.6 million.
The 37-acre, 344,000-square-foot Mission Marketplace Shopping Center at Mission Avenue and College Boulevard in Oceanside for more than $30 million.

Flocke & Avoyer also is handling leasing for Carmel Mountain Center West, a $10.5 million, 101,544-square-foot shopping center at Interstate 15 and Carmel Mountain Road. Although sitework recently commenced, the center is already 99 percent pre-leased. Included are an Albertson's with 57,580 square feet, an Office Depot with 30,000 square feet, a Winston Tire outlet with 4.400 square feet, and a Jack in the Box with 2,802 square feet. The developer is Vestar Development Co.