The commercial real estate marketplace is demonstrating robust activity in Southern California with the recent sale of Plaza Rancho Del Oro, a shopping center in Oceanside. The property, a 65,054-square-foot regional center, was acquired by a high-net-worth individual from Los Angeles for a substantial $34,311,000, equivalent to $527 per square foot. According to Connect CRE, this transaction was facilitated by CBRE’s National Retail Partners-West team.
The region's appeal to investors is evident as the team recently closed deals on two other coastal shopping centers, Santa Ana Centre and Marketplace Del Rio in Oceanside, totaling over $137 million. Jimmy Slusher, James Tyrrell, and Megan Lanni from CBRE’s NRP-West handled Plaza Rancho Del Oro. A&C Properties, a Phoenix-based firm that invests in grocery-anchored centers in the Southwest, was the seller.
Plaza Rancho Del Oro, located at Oceanside Boulevard and College Boulevard, is a community hub with Albertsons and Planet Fitness. It attracts attention from 65,600 passing cars each day. This busy area in north San Diego County is popular with businesses and residents, as CBRE has detailed.
The Plaza Rancho Del Oro's position adjacent to Rancho del Oro, a master-planned community praised for its single-family homes, corporate park, and community park that features soccer fields and an amphitheater, further enhances its allure. The synergy among the center’s tenants, including a mix of restaurants, retail, and service-retail outfits, contributes to the volume of commerce the center experiences. This mixture enhances the convenience and appeal for the surrounding community and potential investors looking for a stake in this vibrant marketplace.
