News

Mira Mesa, Calif. — Decron Properties has purchased Mira Mesa Market West Shopping Center in Mira Mesa for $99 million. The Home Depot, Smart & Final and CVS/pharmacy anchor the 238,747-square-foot property, which was built in 2000. Other tenants at the center include Dave’s Hot Chicken, Rubio’s Baja Grill, Starbucks Coffee, Jersey Mikes, Verizon Wireless, PNC and Lazy Dog. The acquisition includes the assumption of existing financing from New York Life Insurance Co. Stockbridge Capital Group was the seller. 

Richmond, Calif. — Primestor Development has acquired Hilltop Plaza, a 245,921-square-foot retail center situated on 59 acres in Richmond, roughly 18 miles outside San Francisco. An undisclosed seller sold the property for $36.5 million. Tenants at the center, which was 88 percent occupied at the time of sale, include Ross Dress for Less, City Sports Club, dd’s Discounts and Century Theatres. Geoff Tranchina, Eric Kathrein, Gleb Lvovich and Warren McClean of JLL represented both the buyer and seller in the transaction. 

Escondido, Calif. — Cavalier Investments has sold Citrus Strip Center, a retail property located in Escondido, approximately 35 miles north of San Diego. Eiad and Vera H Family Trust acquired the asset for $6.2 million. The 27,310-square-foot property comprises 16 suites and two kiosks. Tenants at the center include restaurants, professional services users, beauty and fitness retailers and a laundromat. Nick Totah of Marcus & Millichap’s San Diego Del Mar office represented the seller and procured the buyer in the deal.

Escondido, Calif. — Marcus & Millichap has brokered the sale of Escondido Commons, a retail property in the San Diego suburb of Escondido. Garry Hanafin of The Hanafin Family Trust sold the asset to Bobby Hrdina of STNC Properties LLC for $1.6 million. Located at 145-49 S. Orange St. and 412-20 W. 2nd Ave., Escondido Commons offers 8,388 square feet of space in 12 retail suites spread across three adjacent buildings and two parking lots. At the time of closing, the center was fully leased to nine tenants. Nick Totah …