September 11, 2019 Comments Off on San Ysidro Retail Center Sold for $25M Views: 648 California News, San Diego

San Ysidro Retail Center Sold for $25M

The Plaza at the Border in San Diego’s San Ysidro submarket has sold for $24.7 million. The buyer of the nearly 100,000-square-foot asset at 3951-3975 Camino De la Plaza along the California-Mexico Border was Irvine, CA-based Pacific Castle.

The flagship shopping center was 92%-leased to high-performing, national credit tenants including Ross Dress for Less, T.J. Maxx, ULTA Beauty, Big 5, Vitamin Shoppe and others.

CBRE’s Kirk Brummer, Phil Voorhees and Preston Fetrow, and the NRP-West team represented the seller and buyer on this transaction.

Brummer says, “The Plaza at the Border enjoys a dynamic retail location along the San Ysidro/Tijuana border, the busiest land port of entry in the world with over 31.6 million people crossing the border each year. Based on this strategic location, the project’s anchor tenants generate tremendous sales volumes, creating an exceptional acquisition opportunity for the buyer, Pacific Castle.”

CBRE’s NRP-West has closed more than $5.5 billion in retail transactions since 2012.

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