FALLBROOK, CA-With investment demand continuing unabated in San Diego County’s retail market and product in short supply, GMS LLC Realty has disposed of its retail asset located in the Fallbrook Mercantile Shopping Center for $196 per sf or a total of $13.8 million.

Beverly Hills-based Barclay’s Realty & Management Co. Inc. has snapped up the property, which it plans to hold as an investment. The grocery-anchored asset, which has a “ranch-style” architectural design, encompasses a total of 70,380 sf. It features 425 parking spaces and is occupied by anchor Major Market, as well as food chains Burger King and Denny’s. According to GMS Realty’s literature on the project, local demographics include a population of 39,453 residents with an average household income of $73,445 within five miles of the center.

Pete Bethea of Burnham Real Estate Oncor International acted on behalf of Barclay’s Realty & Management, as well as seller GMS Realty LLC.

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