Uptown District Shopping Center Sells for $81 Million

San Diego, Calif. — Regency Centers Corp. has acquired the 148,638-square-foot center.

San Diego, Calif.  — The Uptown District Shopping Center, a 148,638-square-foot center, has sold to Regency Centers Corp. for $81.1 million. The mixed-use property is located in San Diego’s Hillcrest neighborhood. Tenants include Ralphs, Trader Joe’s, Wells Fargo, Panera Bread and Starbucks. The Mansour Group of Marcus & Millichap executed the sale.

“The sale of Uptown District Shopping Center exemplifies the unwavering demand for trophy assets in major metropolitan markets,” says Alvin Mansour, a principal at the Mansour Group. “Although there has been an overall uptick in sales volume for retail properties, the increase in demand for multi-tenant properties has been magnified in the grocery-anchored segment.”

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