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Mixed-User in Del Mar Goes for $283/sf

7/03/24

Polo Plaza, a 63.6k sf mixed-use property located in Del Mar, sold for $18 mil, or $283/sf. The buyer was Brixton Capital.

The property is located at 3702 and 3790 Via De La Valle, nestled between the entrance to idyllic Rancho Santa Fe and Fairbanks Ranch in the heart of Del Mar. Among its amenities, the property features expansive outdoor areas, patios, subterranean parking and the Market, a high-end restaurant.

Polo Plaza consists of two, two-story mixed-use buildings situated immediately north of the former Polo Fields, where nearly 500,000 visitors attend events every year. The 3.66-acre property was 69% leased at the time of sale, with a diverse mix of restaurant, office and upscale retail tenants.

Rick Reeder, Brad Tecca, Brunson Howard and Tanner Harris with Newmark, along with Peter Curry and Brooks Campbell of Cushman & Wakefield, represented the seller, ASB Capital Management, in the transaction.

“The sale of Polo Plaza reflects the strong investor interest in Coastal San Diego County,” said Tecca. “This transaction underscores the continued confidence in the region's economic growth and the appeal of well-located, high-quality mixed-use assets.”




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