June 5, 2019
Carlsbad, CA-based Capstone Advisors acquired El Camino Square Shopping Center in Encinitas, CA from US Financial, LP for $12.2 million. The 27,499-square-foot property is located at 191 N. El Camino Real in the heart of Encinitas’ retail corridor.
The property is currently 100% occupied with 21 tenants, including Supercuts, T-Mobile and a broad variety of locally-owned restaurants, retailers and service businesses, several of whom have been at the property for 30 years or more. Capstone intends to perform an exterior renovation of the property, which will include a variety of building and site improvements.
Colliers International’s Vic Gausepohl and Kirk Allison represented the buyer. The seller was self-represented. Financing was provided by La Jolla-based Silvergate Bank.
The property is Capstone’s ninth commercial asset acquisition in San Diego County, and third in the past eight months.
For comments, questions or concerns, please contact Dennis Kaiser