Burnham Real Estate Services/ONCOR International announced that Spa Holdings LLC sold the 92,684-sf Independence Square center, located at 7305-7373 Clairemont Mesa Blvd., to Lichter Venture Group, Inc.
The Burnham Retail Group, in conjunction with GMH Capital Partners, represented both parties, Spa Holdings LLC, the seller, and Lichter Venture Group Inc., the buyer, in the transaction.
The San Diego retail sector has held up well in the recession, according to Kent Williams, vice president and regional manager in Marcus & Millichap's San Diego office.
This is partially due to the city's relatively small retail base: San Diego ranks 13th in gross leasable retail space in the nation, while ranking eighth in population.
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