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Retail Asset Trades for $17.5M

SAN MARCOS, CA-WRI acquires the Von's-anchored shopping center from BOSC Group. Located on Rancho Santa Fe Road in San Marcos, the property is currently 94% occupied.

By Erin Cassin | Updated on May 26, 2003

SAN MARCOS, CA-A 121,000-sf, grocery-anchored shopping center has traded hands in San Marcos, as investors continue to gobble up retail product in San Diego County.Weingarten Realty Investors, the Houston, TX-based equity REIT, has shelled out $17.5 million to private investor BOSC Group for the shopping complex, known as Rancho San Marcos Village. Located at 621-625 Rancho Santa Fe Rd. in San Marcos, the Von’s-anchored complex is currently 94% leased. Additional tenants include 24 Hour Fitness, Union Bank of California and Carl’s Jr.

Faris Lee Investments acted on behalf of both seller BOSC Group and buyer Weingarten Realty Investors. According to a Faris Lee spokesperson, the Irvine-based brokerage firm identified WRI as a match for the sale because of the company’s interest in acquiring neighborhood and community shopping centers in California.

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