The shopping center, which is known as Escondido Center, encompasses a total of 50,052 sf. Currently occupied by stores including Ralphs and 99 Cents Only, it is located in the city's central retail core at East Valley Parkway and Ash Street. This particular section of Escondido has attracted a number of new retailers in recent years, according to Kevin Held of BRE Commercial/NAI's Net Leased Investment Group, who worked on the Escondido Center transaction.
"Over the last few years, many national retailers have opened up new locations revitalizing the central retail core of Escondido," Held says.
He cites Home Depot, Albertsons, Panda Express and Starbucks as recent examples of the trend. Wal-Mart is also trying to open a location in the area and is currently completing an Environmental Impact Report in order to begin construction at a site nearby Escondido Center.
In the recent sale of Escondido Center, buyer Chin Ciardella Investments LLC was represented by Held and BRE Commercial/NAI colleague Chuck Klein. Don MacLellan and Jason Lind of Faris Lee Investments acted on behalf of the seller, M&H Realty Partners IV LP.
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