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MIRA MESA, CA-The demand for well-located retail centers for investment continues in San Diego County as evidenced by the latest deal, the sale of Mesa Shopping Center for $27.3 million. The 140,438-sf retail property changes hands after a three-year hold by Carlsbad-based GMS Realty LLC, who sold the property to Mesa Town Center LLC. Located at 8915-9035 Mira Mesa Blvd., the center's tenants include Seafood City Supermarket (32,745 sf); Rite Aid (21,440 sf); Hollywood Video (6,500 sf); and Furniture Depot (7,764 sf). Eateries at the retail center include McDonald's, Baja Fresh and Quizno's. The property counts 636 parking spaces and was 100% occupied at the time of sale."This is another example of the still very strong local interest in San Diego County retail properties," says Pete Bethea, a senior vice president and principal with Burnham Real Estate Burnham Real Estate Oncor International's Retail Advisors Group. Bethea adds that overall low vacancy, construction based on demand, and "the growing San Diego economy are all contributing to the solid fundamentals of the San Diego retail market."Bethea represented both the buyer and the seller in the deal. Jesse Lowe of Burnham's Capital Market Group arranged a $21.84-million loan for the center's purchase by Mesa Town Center LLC, through a Wall Street lender. Burnham's John Jennings and Aaron Hill will handle leasing efforts for the property, as current tenants' leases come due.The privately held GMS Realty LLC has acquired, managed and leased more than 6.5 million sf of retail shopping centers and is currently in the entitlement phase for more than one million sf of development properties. The company acquired Mesa Shopping Center from Spa Holdings LLC in September 2002 for $17 million. The property underwent a renovation in 1992.