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2/18/20
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A 15.9k sf retail center consisting of four fully occupied, freestanding, triple-net-leased outparcel pads in the San Diego-area community of Imperial Beach, sold for $12.15 mil ($764/sf). The property is part of Breakwater Town Center, a larger center situated on 1.89 acres at 781-881 Palm Ave in an infill area of Imperial Beach, roughly 14 miles from downtown San Diego.
Constructed in 2018 with a beach-centric aesthetic, Breakwater Town Center consists of 31.9k sf of fully leased, internet-resistant space that includes Starbucks, Chipotle, Five Guys Burgers and Fries, Baskin Robbins, Jersey Mike’s Subs and Great Clips and Grocery Outlet.
Gleb Lvovich and Daniel Tyner with JLL represented the seller in the deal. The buyer was not named.
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