SAN DIEGO—A Santa-Barbara-based private investor, working in a 1031 exchange has acquired Scripps Ranch Marketplace Phase II, a 28,700-square-foot shopping center here.
CBRE Executive Vice Presidents Philip Voorhees and Todd Goodman say their National Retail Investment Group – West (NRIG-West) team, together with Mike Moser of Retail Insite, completed the deal.
The property is shadow-anchored by a Vons and CVS/pharmacy (both were not part of the sale), along with Chase, Verizon, Which Wich and a synergistic lineup of local retail businesses. The sale price was $20.45 million, representing a 5.0% cap rate.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
