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5/25/18
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Torrey Del Mar Plaza, a 10k sf, single-level, strip shopping center located in San Diego’s Torrey Highlands submarket, sold for $6.5 mil ($650/sf).
Located at 13857-13859 Carmel Valley Rd, the two-building property, developed by Frank and Gary Anderson, was 100% occupied at the time of sale. There are eight service-type tenants including a dentist, yoga studio, dry cleaners and animal hospital.
The property is surrounded by upscale master-planned communities and is close to State Route 56 and I-15 . The property draws customers from the nearby affluent communities of Pacific Highlands, Fairbanks Ranch, Santa Luz, and Carmel Valley. Outstanding area amenities include highly-ranked school districts, and easy access to major high-tech and biotech work hubs, UCSD, and the beaches of Del Mar and Torrey Pines.
Reg Kobzi, Sam Alison, Mike Philbin and Amar Goli with CBRE represented the seller, Carmel Valley Plaza LLC. The buyer, a local private investor, was repped by Jason Richards.
“This was a great opportunity to own a fully occupied retail center with a great mix of proven tenants in one of the wealthiest trade areas in Southern California,” noted Kobzi.
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