April 25, 2017
BeachWalk, a 54,973-square-foot coastal retail center in Solana Beach, CA, sold for $33.25 million. Situated on a 3.06-acre site at 437 S. Highway 101, the property is steps to the Pacific Ocean, walking distance to the Cedros Design District and Amtrak Train Station, and less than a mile from the Del Mar Fairgrounds and Racetrack.
CBRE’s National Retail Partners’ West (NRP-West), John Read, Reg Kobzi, Philip Voorhees, Jimmy Slusher, and Kirk Brummer represented the seller, a partnership managed by Orange County-based The Muller Company. NRP-West also represented the buyer, an unnamed Chicago-based fund manager.
CBRE’s Read says, “True coastal retail projects like BeachWalk seldom come to market,” noting that the property’s internet-resistant ‘daily needs’ and complementary tenancy with national, regional and local operators “make the property an integral part of this coastal community.”
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