SAN DIEGO—Clarion Partners, together with San Diego-based HP Investors, have acquired a portion of the McGrath Family portfolio for $107.15 million on behalf of one of its commingled funds.
The McGrath Family, known in San Diego as pioneers in construction and real estate, sold a portion of its retail portfolio encompassing 294,428 square feet in the Kearny Mesa submarket.
The portfolio, which is situated on 29.07 acres and comprised of six single-tenant leased retail properties and one retail strip center, is tenanted with some of the most sought after national retailers in the market, including Wal-Mart, LA Fitness, McDonald's, Food 4 Less, Starbucks, Verizon, and Chipotle, among others.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
