JLL Capital Markets facilitates successful sale of retail center in San Diego County
News release
12 November 2024
Coastal shopping center in Solana Beach, CA trades for $32M
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LOS ANGELES, Nov. 12, 2024 – JLL Capital Markets announced today the $32.125 million sale of Beachwalk Shopping Center, a 55,580-square-foot coastal retail property located in Solana Beach, California.
JLL represented the undisclosed Seller in the transaction. Capstone Advisors acquired the property.
Beachwalk is coastal shopping center that features a diverse tenant mix including food and beverage, health and wellness and service-oriented businesses with a strong following in the community.
Located at 437 S Highway 101, Beachwalk offers strategic access to major east/west thoroughfares and serves affluent communities including Del Mar, Encinitas and Rancho Santa Fe. The property benefits from its proximity to popular San Diego destinations such as the Del Mar Racetrack, Del Mar Fairgrounds and Cedros Design District. Solana Beach boasts an average household income exceeding $172,000 and average home values surpassing $2,000,000, underlining the area's desirability and economic strength.
The JLL Investment Sales and Advisory team was led by Managing Directors Geoff Tranchina and Gleb Lvovich and Senior Director Daniel Tyner.
“Coastal retail properties rarely surface in Southern California,” commented Tyner. “The Beachwalk transaction exemplifies the strong investor interest these distinctive assets generate given the strong fundamentals and affluence in coastal San Diego.”
“Beachwalk presented a rare opportunity to acquire a generational coastal real estate asset in one of Southern California's most coveted communities,” added Tranchina. “Its prime location, diverse tenant mix and substantial lease-up potential offered an attractive opportunity for Capstone.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Capstone Advisors
Capstone Advisors is a diversified real estate investment and development company with a proven track record of having acquired five million square feet of commercial properties throughout the U.S. across multiple real estate cycles and product types. Since 1996, Capstone Advisors has served as operating partner, advisor, capital provider, joint venture partner and developer for some of the most well-regarded financial institutions in the world. The company has invested and developed a variety of commercial property types as well as been an active investor in residential land development, home building and resort development. Capstone Advisors is headquartered in Carlsbad, California. Visit CapstoneAdvisors.com for more information.