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Vista Retail Center Brings Nearly $4M

VISTA, CA-High demand confounded by little turnover in North San Diego County means this multi-tenant retail center has great upside potential, which will allow the buyer to increase below market rents in a growing market.

By Nellie Day | Updated on October 17, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

VISTA, CA-The 19,730-sf multi-tenant retail center called Santa Fe Crossroads sold to a private investor out of Los Angeles for $3.76 million. The investor was required to assume an existing loan that called for an unusually high down payment of about 70%.

Located at 1450 Santa Fe Ave., Santa Fe Crossroads consists of two separate buildings that were 100% occupied at the time of sale. The center, whose previous owner was Santa Fe Crossroads, an Orange-based California general partnership, is anchored by McDonald’s, which wasn’t part of the sale, and Payless ShoeSource and T-Mobile, which were.

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