August 27, 2019
Charlotte, NC-based Asana Partners acquired The Beacon La Costa, a 123,000-square-foot upscale retail center located at 7710-7770 El Camino in Carlsbad, CA in a $57.6-million off-market transaction.
The asset is located in one of San Diego County’s most affluent neighborhoods, with an average household income of approximately $163,000 within a three-mile radius. The property is anchored by San Diego’s first Equinox.
JLL’s Capital Markets team of Geoff Tranchina and Jose Carrazana represented the buyer. The seller was undisclosed.
“This was an opportunity for Asana Partners to acquire a unique neighborhood center in an affluent trade area, with pent-up demand from specialty retailers and unique-to-market restaurant operators,” said Tranchina. “There continues to be investor interest in high-quality retail centers located in top tier, demographically-driven markets.”
For comments, questions or concerns, please contact Dennis Kaiser