X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN DIEGO, CA-GMS Realty LLC has snapped up the Mesa Shopping Center in a deal valued at nearly $17.1 million. It plans to hold the retail property as an investment.

Located at 8915-9305 Mira Mesa Blvd., the complex encompasses 145,000 sf. It is leased by tenants such as Seafood City, Hollywood Video and Rite Aid.

Pete Bethea of Burnham Real Estate Services ONCOR International acted on behalf of both the seller, Spa Holdings LLC and the buyer, GMS Realty LLC.

Privately held GMS Realty is a Carlsbad-based investment, management and development firm. It currently owns, manages and leases more than four million sf of retail shopping center space.

The deal follows on the heels of another major retail transaction in San Diego County, as Otay Mesa LLC recently shelled out $14 million for La Mesa Crossroads retail complex. Encompassing 172,500 sf, the property is located at 7900-7968 El Cajon Blvd. in La Mesa. It was 92% occupied at the time of sale, with tenants including Burlington Coat Factory and El Torito Restaurant.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

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

  • Free unlimited access to GlobeSt.com'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 ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.