CT California Fund II LLC, an entity of CT Realty Co. has boughtthe mall, which closed in January, from Bankers Trust Co. Theformer showroom'office building at 1050 Los Vallecitos Blvd.,visible from Highway 78, is being retrofitted into a homefurnishings, mixed-use retail and office location. Construction isunder way, with delivery planned for the fourth quarter.
Buyer and seller has been represented by the Carlsbad office ofColliers International, who already has preleased 30,000 sf toHeritage Gallery in a 10-year deal being valued at $3.1 million and15,000 sf to Arizona Leather in another 10-year deal with about a$2 million value.
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