Thank you for sharing!

Your article was successfully shared with the contacts you provided.

OCEANSIDE, CA-An 88,004-sf shopping center that counts Albertsons supermarket as one of its main tenants has traded hands for $8.3 million, as investors continue to bet on the stability of grocery-anchored retail product.

In addition to Albertsons supermarket, the complex is also anchored by Coco’s Restaurant, Church’s Fried Chicken and Mobil Oil. Located at 3906-3935 Mission Ave. in Oceanside, the asset is known as Mission Douglas Plaza, Phase I. The buyers, Yacoel Properties LLC and Maria E. Yacoel, plan to hold the property as an investment.

Bill Barnett and Doug Hogan of Burnham Real Estate ONCOR International acted on behalf of the buyers, as well as seller Mission Douglas Partners LLC. Gary Goss of Burnham Capital Markets arranged the financing for the recent transaction.

Grocery-anchored properties have long been a favorite of retail investors, especially during unstable economic times. These types of properties continue to boast steady sales even when consumers cut back on expenditures, since they sell basic essentials such as food.

San Diego County’s retail market in general continues to buck the shakiness of today’s national economy with recent reports of positive growth. At mid-year, vacancy rates had declined from 5% to 4% countywide, according to a report released by BRE Commercial/NAI. The mid-year statistics show that 532,717 sf of retail space was absorbed in the second quarter of 2003.

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


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.