Mira Mesa's busy retail crossroads just got a new landlord. CenterCal Properties has scooped up Mira Mesa Market in northern San Diego, paying about $84.8 million for the fully leased shopping center. The deal hands control of roughly 249,000 square feet of retail at the intersection of Mira Mesa Boulevard and Westview Parkway from Stockbridge Capital Group to the El Segundo-based owner. CenterCal says it will invest in the property and pursue targeted leasing to sharpen the center's role as a neighborhood destination.
According to CoStar, CenterCal acquired the property for $84.8 million, or about $340.48 per square foot, buying the asset from Stockbridge Capital Group. CoStar lists the center at roughly 249,060 square feet and describes it as fully leased, with parcel-level details on the anchors and smaller tenants.
In a company release, CEO Jean Paul Wardy called the deal an exciting addition to the portfolio, saying Mira Mesa combines strong retail real estate fundamentals with clear long-term potential. The release, distributed via PR Newswire, notes that the transaction closed on June 1, and that CenterCal plans what it terms thoughtful reinvestment and strategic leasing at the site.
What’s at the center
Mira Mesa Market spans multiple parcels on Westview Parkway and serves as a conventional community shopping hub, with a mix of national retailers, restaurants and an Edwards movieplex. The property's marketing materials list its range as 10643-10789 Westview Pkwy, according to Mira Mesa Market. Leasing contacts and management information remain publicly listed while CenterCal gears up for its planned reinvestment work.
Why the sale matters
Investor demand for stabilized neighborhood and community centers has stayed steady as buyers focus on essentials-oriented retail, and a fully leased asset like Mira Mesa Market fits that playbook neatly. San Diego's retail vacancy was 4.9% in Q1 2025, a level Cushman & Wakefield reported, helping keep income-producing centers in demand across the county. That backdrop helps explain CenterCal's emphasis on upgrades and leasing activity rather than immediate redevelopment.
Local reporting and industry outlets, including Connect CRE, note that the purchase adds to CenterCal's expanding West Coast portfolio. For lease or tenant questions, the center's leasing page remains active online at Mira Mesa Market, and brokers expect day-to-day operations to continue while ownership transitions management responsibilities.
