$11M Buys Escondido Complex

ESCONDIDO, CA-A 90,549-sf retail shopping complex has traded hands in North County, which is currently considered one of the strongest retail submarkets in the region. The transaction, which involves a portion of Escondido Valley Center, is valued at $10.9 million or approximately $120 per sf.

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.