Friday, March 18, 2016

HFF closes $23.6 million sale of grocery-anchored retail center in San Diego County, CA


  Fallbrook Mercantile Center, Fallbrook, CA                                           Photo by Marc Weisberg                       
Gleb Lvovich
NEWPORT BEACH, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $23.6 million sale of Fallbrook Mercantile Center, a 70,410-square-foot, grocery-anchored neighborhood shopping center in the San Diego-area community of Fallbrook, California.

HFF marketed the property on behalf of the seller, Tourmaline Capital.  Gerrity Group purchased the asset free and clear of existing debt. 

Anchored by Major Market Grocery Store, the 97-percent-leased Fallbrook Mercantile Center is home to national and regional tenants, including Anytime Fitness, Sherwin Williams, Burger King, Jersey Mike’s Subs, Fantastic Sam’s and Denny’s. 

The center is situated on 6.6 acres at 813-855 South Main Avenue in Fallbrook, an unincorporated community 56 miles north of downtown San Diego and near Marine Corps Base Camp Pendleton.  

Located between three major arteries in the area, Mission Road, Main Avenue and Fallbrook Street, more than 45,400 vehicles pass Fallbrook Mercantile Center daily.

The HFF investment sales team representing the seller was led by Gleb Lvovich and CJ Osbrink.

“Fallbrook Mercantile Center’s combination of strong sales and a dominant location within the submarket generated strong interest from both private and institutional investors,” Lvovich said.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

No comments: