{"id":1004173895,"date":"2017-04-24T06:53:28","date_gmt":"2017-04-24T14:53:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004173895"},"modified":"2022-12-05T08:49:00","modified_gmt":"2022-12-05T16:49:00","slug":"cbre-completes-sale-of-solana-beach-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-solana-beach-retail-center\/","title":{"rendered":"CBRE Completes Sale of Solana Beach Retail Center"},"content":{"rendered":"<p>By Ariela Moraru<\/p>\n<div id=\"attachment_1004173907\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/BeachWalk-Solana-Beach-Calif..jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004173907\" data-attachment-id=\"1004173907\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-solana-beach-retail-center\/beachwalk-solana-beach-calif\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/BeachWalk-Solana-Beach-Calif..jpg\" data-orig-size=\"1200,960\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"BeachWalk, Solana Beach, Calif.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;BeachWalk, Solana Beach, Calif.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/BeachWalk-Solana-Beach-Calif..jpg?w=1024\" class=\"wp-image-1004173907 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/BeachWalk-Solana-Beach-Calif..jpg\" alt=\"BeachWalk, Solana Beach, Calif.\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/BeachWalk-Solana-Beach-Calif..jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/BeachWalk-Solana-Beach-Calif..jpg?resize=300,240 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/BeachWalk-Solana-Beach-Calif..jpg?resize=768,614 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/BeachWalk-Solana-Beach-Calif..jpg?resize=1024,819 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004173907\" class=\"wp-caption-text\">BeachWalk, Solana Beach, Calif.<\/p><\/div>\n<p>BeachWalk, a 54,973-square-foot coastal retail center in Solana Beach, Calif., sold for $33.3 million. CBRE\u2019s retail investment experts John Read, Philip Voorhees, Jimmy Slusher, Kirk Brummer and Reg Kobzi represented the seller, a partnership managed by The Muller Co., while CBRE\u2019s National Retail Partners-West team represented the buyer, a Chicago-based fund manager.<\/p>\n<p>Located at 437 S. Highway 101, just off Highway 101 and along the Pacific Ocean, the 3-acre site is around 30 minutes north of downtown San Diego. The property is within walking distance of the Cedros Design District and Amtrak train station and less than a mile from the Del Mar Fairgrounds, site of the Del Mar racetrack. Tenants of the 1993-built shopping center include California Pizza Kitchen, Alfonso\u2019s of La Jolla, Rubio\u2019s Coastal Grill and Banfield Pet Hospital. JLL is leading leasing efforts.<\/p>\n<p><em>&#8220;There are few alternatives in this immediate area and coastal areas in general for tenants seeking more traditional retail center space with adequate on-site parking, keeping occupancy levels high,&#8221;\u00a0<\/em>Read said in prepared remarks<em>. &#8220;Based on the property\u2019s configuration, strong historical occupancy, improving tenancy and upward trending rents in this highly affluent trade area where average household income exceeds $142,000, Beachwalk is a trophy asset in a coastal location that will maintain its dominant market position for years to come.&#8221;<\/em><\/p>\n<p>Other recent developments in the Solana Beach submarket of San Diego include the construction of <a href=\"https:\/\/www.commercialsearch.com\/news\/mixed-use-industrial-developments-underway-in-san-diego\/\">RAF Pacifica Group<\/a>&#8216;s 26,000-square-foot mixed-use project by 2018. The property will also include 5,000 square feet of retail space.<\/p>\n<p><em>Image courtesy of CBRE<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 54,973-square-foot coastal retail center changed hands for 33.3 million. Tenants include California Pizza Kitchen, Alfonso\u2019s of La Jolla and Banfield Pet Hospital.<\/p>\n","protected":false},"author":960,"featured_media":1004173907,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,21749,1608,15],"tags":[32789,32796],"class_list":["post-1004173895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-retail","category-san-diego","category-west","tag-cbre","tag-jll"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CBRE Completes Sale of Solana Beach Retail Center - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-solana-beach-retail-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBRE Completes Sale of Solana Beach Retail Center\" \/>\n<meta property=\"og:description\" content=\"The 54,973-square-foot coastal retail center changed hands for 33.3 million. 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