ACQUIRED – Rancho Carmel Plaza – 2015 was a year full of acquisitions of well-located, established properties in highly coveted submarkets.This included the purchase of Rancho Carmel Plaza, a 30,421 square-foot retail center in San Diego’s Carmel Mountain Ranch neighborhood. Already home to Starbucks, Oggi’s Pizza and Brewing, and USE Credit Union, this retail center provides us the opportunity to do what we do best – increase the value of existing properties for their tenants and the community. We plan to give this project, originally built in 1993, a competitive update. For more info click here.
ACQUIRED – The Island @ Carlsbad – Our most recent acquisition also happened to be in our own backyard! The Island has a natural audience of shoppers from the employees of the surrounding businesses, which include some notable names like Thermo Fisher, Genoptix Inc., SKLZ, Abbott Labs, TaylorMade, and Capstone Advisors. Located on the most heavily traveled intersection in the Carlsbad Research Center, this was an excellent opportunity to purchase this 39,993 square-foot property given our success of taking well-located acquisitions and transforming them through dramatic physical improvements. We’re looking forward to improving the overall aesthetics and design of the property to create a contemporary space where our neighbors can spend time enjoying the center’s great merchants and our wonderful Carlsbad community. For details on the acquisition click here.
RENOVATED – The Ivanhoe – Adding a new gem to The Village of La Jolla’s limited supply of Class A office supply, The Ivanhoe was reopened to much acclaim from tenants and the community. The 33,417 square-foot, three-story building – located at 7817 Ivanhoe Ave. – has undergone a $1.5 million transformation. The modernization includes a fully renovated lobby, newly renovated hallways and elevators, an extensive parking garage upgrade, and exciting exterior improvements. We unveiled a new video detailing the renovation process and providing before and after glimpses of the impressive transformation. For more details click here.
RENOVATED – The Presidio – We were happy to receive extremely positive feedback from our tenants and the greater community at the grand reopening of The Presidio in Linda Vista. This edgy urban update provided the modern storefronts needed to complement existing tenants like Home Brew Mart, the original home of Ballast Point. Ballast Point Tasting Room and Pacific Time are some of the center’s newest additions. With the completion of the most significant renovation of the property since it was built in 1966, The Presidio now provides a contemporary gathering place for members of the Linda Vista and Bay Park communities and the approximately 9,000 students and staff at nearby University of San Diego. Check out the update to Linda Vista’s community gateway here. And for more details click here.
ACQUIRED – Poway Valley Center – Poway Valley Center’s position in an ‘A’ location in the heart of Poway with occupancy costs below the adjacent centers made it an excellent addition to our portfolio of retail properties. This center is an excellent example of our successful strategy of utilizing long-standing relationships with the local brokerage community to target well-located retail centers on the west coast. We are hard at work preparing this 25,754 square-foot center for an extensive redesign to make it an even better environment for merchants, restaurateurs and convenience-oriented businesses. For more information click here.
ACQUIRED – Sabre Springs Plaza – The purchase of this retail center in Sabre Springs earlier this year provided us the opportunity to acquire an overlooked asset in our home market. Our team has already significantly improved the performance and appearance of the property which will help the tenants at this well-located center. Improvements include updated landscaping, parking lot and energy efficient lighting, as well as a complete overhaul of exterior paint. For details click here.