The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 24, 2024
 Search RENTV
 The REview
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Escondido Retail Center Trades for $28.5 Mil


A 179.5k sf, Lowe’s-anchored shopping center in Escondido sold for $28.5 mil ($159/sf). The sale includes a separately parceled Panda Express with a drive-thru and fee simple ownership of a three-tenant retail building anchored by San Diego Gas and Electric.

The center is located at the junction of California SR 78 and I-15, which sees over 240,000 vehicles per day. Attractions nearby include Escondido Promenade, Westfield North County Mall, and San Diego Safari Park. Average annual household income within a five-mile radius is over $100,000.

Ron Duong and Joe Berkson with Marcus & Millichap represented the seller, a private investor. Duong, Berkson, and Adam Attia, also with M&M, repped the buyer, who paid all-cash.

“The Lowe’s and Panda Express ground leases comprise 95% of the center’s gross leasable area, providing the new owner with a largely passive ownership position,” noted Duong. “There have been few comparable open-market Lowe’s-anchored center acquisitions in the past five years, underscoring the rarity of this opportunity.”

Return to the Archive page



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media