Oceanside Retail Center Under New Ownership
By
Tony Seruga
Located in the Oceanside coastal community of San Diego, the asset features strong occupancy and is shadow-anchored by Lowe’s.
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Old Grove Marketplace, Oceanside, Calif.
San Diego—The Old Grove Marketplace
retail center in Oceanside, Calif., recently changed hands in a deal worth a total of $23.3 million.
Gerrity Group sold the asset to buyer
InvenTrust Properties Corp. free and clear of existing debt, in a transaction arranged by
HFF. The retail investment sales team that handled the sale was led by HFF representatives Gleb Lvovich, CJ Osbrink, and Bryan Ley.
Occupying an 8.7-acre plot of land at 101, 125, 165 and 175 Old Grove Road in Oceanside, the retail center offers a total of 81,279 square feet of space. Anchored by a Ralph’s Marketplace, the asset currently operates at 91 percent occupancy. Its tenant roster also includes names such as U.S. Bank, Starbucks, Pick Up Stix, H&R Block, Oceanside Family Dentistry, and AT&T. The area is home to more than 120,000 residents earning an average household income of over $74,000…
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