Matthews Arranges $42M Sale of San Diego Retail Center
- Mar 21, 2018
Matthews Real Estate Investment Services has arranged the sale of Del Oro Marketplace, a 102,000-square-foot shopping center in Oceanside, Calif. Located at 4181 Oceanside Blvd., the asset was sold for $41.7 million at a 5.08 percent cap rate. Matthews Real Estate Investment Services National Director El Warner and Investment Associate Caitlin Zirpolo represented the seller. The company also collaborated with CBRE’s leasing agents Reg Kobzi and Joel Wilson, while Helm Properties Owner Broker Jeff Helm represented the buyer.
“We were successful in generating multiple offers and were able to dictate pricing and terms to get not only an excellent price for our seller, but to also provide them flexibility to help with their exchange,” said Warner in prepared remarks.
The free-standing Walgreens, located at the intersection of College and Oceanside Boulevard, was sold individually to a private buyer from northern California at a 4.34 percent cap rate. Highway 76 and Ronald Packard Parkway are both easily accessible from the property. Ralphs, Wells Fargo Bank and Trade Show Executive are also located nearby.
Image courtesy of Matthews Real Estate Investment Services