A private investor has acquired the property from TSA Stores Inc., which originally purchased it in 1994 from Home Depot USA for $8.5 million. Located at 1346, 1352 and 1356 West Valley Parkway in Escondido, the asset is anchored by Sports Authority, Staples and Tweeter. Staples signed on to the project in 2000, with Tweeter following suit in 2001.

TSA Stores Inc. represented itself in the recent transaction. Eric Tompkins and Dave Hagglund of CB Richard Ellis' San Diego Central office acted on behalf of the buyer.

The sale of Escondido Valley Center follows on the heels of another North County transaction--GMS LLC Realty's recent disposition of its retail asset located in the Fallbrook Mercantile Shopping Center. Barclay's Realty & Management Co. Inc. paid $13.8 million for the grocery-anchored property, which encompasses 70,380 sf.

North County is a hotbed of retail activity as of late, with investors increasingly honing in on product here. "The continued renovation of high-quality properties in San Marcos, Oceanside and Carlsbad has helped position the North County submarket as one of San Diego's better locations for retail investments," according to the February 2004 Marcus & Millichap Retail Report. "Buyers entering the market, or increasing their market share in San Diego, should look no further than North County as a viable investment choice," the report notes.