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| San Marcos Civic Center Plaza, San Marcos, CA |
IRVINE, CA – HFF announced it has closed the $14.35 million
sale of and secured $9.7 million financing for San Marcos Civic Center Plaza, a 60,552-square-foot, LA
Fitness-anchored retail and entertainment center in the Southern California
city of San Marcos.
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| CJ Osbrink |
HFF sold the property on behalf of the seller, Saber SMCCP,
LLC, and procured the buyer, Webb Management & Investments.
HFF also secured the 10-year, fixed-rate loan
on behalf of the new owner and will service the securitized loan. Additionally, HFF originally represented the
seller and buyer when Saber SMCCP, LLC acquired the property in 2012.
Completed in 2008, San Marcos Civic Center Plaza is
97.1-percent leased to anchor LA Fitness, FedEx Kinko’s, Subway, Edward Jones
Investments, Robek’s and Ryan Brothers Coffee.
At the heart of the
plaza is an outdoor courtyard seating area that doubles as an entertainment
venue for the community with movies, cartoons and sporting events projected
onto a large screen mounted to the exterior of LA Fitness’ building daily from
dusk until 10 p.m.
The courtyard also includes a stage for musical acts, an
outdoor fire pit and water feature. The
plaza spans 5.92 acres at 125-157 North Twin Oaks Valley Road in central San
Marcos, a city 35.6 miles north of San Diego.
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| Ryan Gallagher |
It is adjacent to the San Marcos Civic Center and City Hall and walking
distance to California State University at San Marcos, which has an enrollment
of more than 12,000 students.
HFF associate director CJ
Osbrink represented the buyer, and HFF senior managing director Ryan Gallagher represented the seller.
The HFF debt placement team representing the borrower was
led by associate director Greg Brown
and senior managing director Don Curtis.
“San Marcos Civic Center Plaza is a high traffic,
well-performing asset with a strong anchor in LA Fitness and a complementary
national tenant lineup,” Osbrink said. “This transaction is a prime example of
HFF utilizing our multi-faceted platform to best service our clients and
investors.”
For a complete copy
of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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