Plaza El Paseo is occupied by a diverse mix of tenants.
RANCHO SANTA MARGARITA, CA—GlobeSt.com has learned exclusively that K&G El Paseo 1 & 2, LLC has sold Plaza El Paseo at Rancho Santa Margarita Town Center, a legacy-quality shopping center here, for $56.6 million to Plaza El Paseo Center, LLC. The center, which totals approximately 107,000 square feet of building area and is occupied by a diverse mix of tenants, was sold despite a $32-million encumbrance.
Built in 2002 and situated on 10.56 acres at the corner of El Paseo and Alma Aldea, the asset is anchored by Bed, Bath & Beyond; BevMo and Wood Ranch BBQ. It is centrally located within the 1-million-square-foot Santa Margarita Town Center, one of the region's most successful master-planned retail developments, and is adjacent to Kohl's and the Rancho Santa Margarita City Offices.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
