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9/07/17
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Rancho Carmel Village Center, a 27.1k sf retail center in Rancho Bernardo, was purchased for $10.5 mil ($387/sf) by New World Limited Partnership.
The property, situated on 3.34 acres at 12125-12165 Alta Carmel Court, consists of three one-story buildings. It is 100% leased to 14 tenants, including a pizzeria, fitness center, salon, a learning center, a spa, and other neighborhood-type tenants.
Reg Kobzi, Joel Wilson and Michael Peterson with CBRE represented the buyer. The seller, AP-Rancho Carmel LLC, was repped by CBRE’s NRP West team, led by Phil Voorhees, Kirk Brummer and Reg Kobzi.
“The center is located in an affluent trade area with high traffic—there are limited sites in the area for future development, creating a high barrier to entry,” noted Kobzi, vice president of CBRE in the San Diego region.
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