Breaking will be offline for scheduled maintenance Friday Feb. 26 9 PM US EST to Saturday Feb. 27 6 AM EST. We apologize for the inconvenience.


Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN DIEGO-Five years after its $4.7-million acquisition of the Rolando Plaza Shopping Center, a Voit Development entity has sold the grocery-anchored retail asset located at 6411-6535 University Ave. in San Diego for $10.6 million.

While under the ownership of seller Voit Rolando Partners LLC (with Voit Development as managing member), Rolando Plaza was extensively repositioned. Voit implemented both exterior and interior upgrades, including new pylon signs; electrical and plumbing renovations; irrigation, landscape and parking lot rehabs; a new exterior color scheme; and a variety of individual tenant improvements.

When Voit acquired the retail asset in 1998, anchor tenants Albertson’s Grocery, Cal Stores Sporting Goods and Kragen Auto were all slated to vacate the property. As a result, occupancy here fell to 30% soon after Voit purchased the center. However, during its five years of ownership, Voit brought the center up to a 94% occupancy rate, with new leases totaling more than $7 million. New tenants include Save A Lot Foods with 14,000 sf; NAPA Auto Parts with 8,000 sf; Gambro Healthcare with 8,503 sf; Starbucks Coffee with 1,300 sf; Salvation Army with 12,040 sf; PWS Coin Laundry with 2,534 sf; and Colortyme Rent To Own with 5,077 sf.

Chris Rink of BRE Commercial/NAI’s UTC office, which represented Voit in all of Rolando Plaza’s new lease transactions, also acted on behalf of the LLC in the recent sale. Rink will be retained for leasing services by buyer SCI Rolando Fund LLC, an entity of SCI Properties.

Andrew Meyers of BRE Commercial/NAI’s UTC office spoke on behalf of SCI, which is a tenant-in-common investor that pools funds of individual exchange buyers. Upon acquisition of the property, the LLC transferred title into SCI Rolando Funds 1 through 7. It also obtained a new $8-million trust deed from Wachovia Bank.

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?

Dig Deeper


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.