JLL Capital Markets arranges $12 million refinancing for the 105,700-square-foot Mission Promenade in Oceanside, CA

Mission Promenade, a 105,700-square-foot, dual grocery-anchored shopping center  in Oceanside, CA.

 

IRVINE, CA – JLL Capital Markets has arranged the $12.05 million refinancing of Mission Promenade, a 105,700-square-foot, dual grocery-anchored shopping center located within the San Diego area in Oceanside, California.

 

JLL represented the borrower, Milan Capital Management, to secure the ten-year loan through regional bank.

 

The JLL team that represented the borrower was led by Senior Managing Director Jeff Sause and Managing Director John Chun.

 

Jeff Sause

Built in 1972 and renovated in 1999, Mission Promenade is currently 97% occupied to a diverse mix of national and regional tenants.

 

It is grocery-anchored by El Super, a Latino supermarket chain, as well as a grocery outlet, which combined account for roughly 59% of the total rentable square feet and 66% of the total net operating income.

 

 It is also anchored by a 22,000-square-foot dd's Discounts (part of Ross Dress for Less).

John Chun

       

 

Situated at 1527-1547 Mission Ave., the center is located on an infill, 9.5-acre site along the primary commercial corridor of Mission Avenue.

 

Set 1.1 miles from the intersection of the I-5 and CA-76, as well as 1.3 miles from the Pacific Ocean, the property is strategically positioned adjacent to major arterial transportation nodes that offer excellent accessibility to the Greater San Diego region, Orange County and the Inland Empire.

 

Additionally, Mission Promenade is just 1.2 miles east of the Oceanside Transit Center, a major railway interchange serving both intercity and commuter services. Area demographics are robust, with a population of nearly 180,000 within a five-mile radius and a median household income of $75,600.

 

 CONTACT:

 

 

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com