|
|
10/30/25
|
CEG Capital Partners has acquired a 53.3k sf retail center in San Diego for $23 mil ($432/sf). The property was sold by The Shops at Madison Place LLC, which had owned the asset for many decades.
The center is located at 5487–5597 Clairemont Mesa Blvd, adjacent to the west side of I-805 at the western gateway to Kearny Mesa. It benefits from a dense housing base, strong visibility and consistent tenant demand.
CEG will rebrand the center as Kearny Gateway Plaza and will implement a comprehensive renovation of the property. Plans include modernized façade treatments, new signage and landscaping, parking lot upgrades, and targeted leasing to enhance the tenant mix with food and beverage, service retail, health, and fitness concepts that cater to the surrounding community.
Michael Peterson and Reg Kobzi of CBRE brokered the transaction, which was financed by Torrey Pines Bank, a subsidiary of Western Alliance Bank.
|
|
 Return to the previous page
|
|
|
|
|
Printer-friendly Version
Email an Associate
