Kirk Brummer Brummer: “All of the tenants are on triple-net leases with minimal near-term lease expirations and a very established tenant roster with a majority of the tenants operating in the center for more than 10 years, including CVS, which has operated in the center for more than 39 years.”

SAN DIEGO—Investors are able to add value and create synergies in “passive” retail investments by upgrading some of the older, legacy tenants with newer, contemporary tenants and adding more nationally and regionally recognized stores and restaurants, CBRE’s SVP Kirk Brummer tells Brummer is part of EVP Philip Voorhees’ National Retail Partners-West team who, in conjunction with San Diego-based SVP Reg Kobzi, recently completed the sale of Riverdale Shopping Center, a neighborhood retail center Mission Gorge submarket here, for $10.1 million.

The shopping center is anchored by CVS/pharmacy, along with a synergistic mix of food, service and retail co-tenancy. CBRE retail experts Voorhees, Brummer, Jimmy Slusher, Megan Wood, Sean Heitzler and Kobzi represented the seller, a partnership advised by San Diego based commercial real estate investment firm SENTRE, which includes Peckham Properties Inc., Commercial Sites Limited and Wells Fargo Bank, N.A., in its fiduciary capacity as trustee of McKinney Survivor’s Trust.  The buyer, also represented by Kobzi, was San Diego-based Becker Properties LLC, which purchased the property as an addition to its portfolio.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

More from this author


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.