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SAN MARCOS, CA—Rehabilitation of a 106,000-sf former factory outlet center is nearly complete, and owner CT Realty Corp. has inked a 20,000-sf lease deal valued at just over $2 million.

The property, 78 Place, is located at 1050 Los Vallecitos Blvd., just off of Route 78. The building, formally known as the North County Factory Outlet Center, is in the final stages of a roughly $1.2 million remodeling endeavor.

Outlet tenants such as Arizona Leather and Heritage Furniture are readying to open their doors to customers next month and will occupy a total of 45,000 sf in the center.

The Computer Education Institute recently signed a seven-year lease of about 20,000 sf in a deal valued at $2.1 million. Ali Asgari with Century 21 Automated represented the tenant. Mark Avilla of Business Real Estate Brokerage Co./NAI represented the owner, a unit of CT Realty known as CTF2-Outlet LLC, in the transaction.

Leasing officials say a major draw for the computer education outfit is the higher-than-average parking ratio of 6/1000. The outlet center has about 45,000 sf still available at an asking rate of $1.15 psf.

Mark Avilla of Business Real Estate Brokerage Co./NAI handles the leasing.

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