Marcus & Millichap Real Estate Investment Brokerage Co. have brokered the sale of the Civic Center Plaza, located at 315-445 N. Escondido Blvd. David J. Dematteis and John Erthein, senior investment associates, were the agents marketing the property for the seller, a Northern California-based investment partnership whose name the brokerage would not disclose.
Dematteis and Erthein are members of Marcus & Millichap¹s National Retail Group, which launched an extensive national marketing campaign. Dematteis and Erthein secured and represented the buyer, a Solano Beach, CA-based general partnership.
Civic Center Plaza was built in 1967. Some of the tenants include Ross Dress for Less, Smart and Final, Plummers Furniture, the U.S. Postal Service, Sizzler, Lockheed Martin, La Jolla Bank and Coldwell Banker.
At the time of the sale, the plaza was 85% occupied. Civic Center Plaza is across the street from the Civic Center and California Center for the Arts. The site has heavy passenger traffic. Three major thoroughfares within immediate proximity to the plaza -- Center City Parkway, Valley Parkway and Escondido Boulevard -- carry more than 52,000 cars per day.
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