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Retail Properties Fetch $41M

SAN DIEGO-Two retail sites close recently in separate deals. The projects, Village Faire Shopping Center and Scripps Ranch Market Place Phase II, count nearly 120,000 sf.

By Daniel D. Williams | Updated on December 26, 2005

SAN DIEGO-Retail investment property remains hot in San Diego County as separate deals close before the end of the year. The two deals total $41 million and nearly 120,000 sf.In the first deal, Village Faire Shopping Center, in Carlsbad, brought in $25.9 million. Sima Corp. acquired the property from OREXCV LLC c/o GDA Real Estate Services of Denver.The property counts 90,000 sf on two stories and is located in Downtown Carlsbad at 300 Carlsbad Village Drive. Tenants include Niemans Restaurant, Coyote Bar & Grill, Skinsations’ Day Spa, Submarina and Sonoma Valley Market.Phil Lyons, CCIM, and Bruce Schiff, CCIM, of Grubb & Ellis

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