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11/13/24
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In a notable SoCal retail trade, Capstone Advisors bought Beachwalk Shopping Center, a 55.6k sf, coastal retail property in Solana Beach, for $32.125 mil ($578/sf). Beachwalk features a diverse tenant mix including food and beverage, health and wellness and service-oriented businesses with a strong following in the community.
Located at 437 S Highway 101, Beachwalk offers strategic access to major east/west thoroughfares and serves affluent communities including Del Mar, Encinitas and Rancho Santa Fe. The property benefits from its proximity to popular San Diego destinations such as the Del Mar Racetrack, Del Mar Fairgrounds and Cedros Design District.
Solana Beach boasts an average household income exceeding $172k and average home values surpassing $2 mil, underlining the area's desirability and economic strength.
Geoff Tranchina, Gleb Lvovich and Daniel Tyner with JLL represented the seller in the deal.
“Coastal retail properties rarely surface in Southern California,” commented Tyner. “The Beachwalk transaction exemplifies the strong investor interest these distinctive assets generate given the strong fundamentals and affluence in coastal San Diego.”
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