Balboa Partners Picks Up Pair of SoCal Retail Centers
Los Angeles-based Balboa Partners purchased two 100%-occupied, grocery-anchored centers in Southern California in separate transactions handled by Colliers International. Total consideration and identities of the selling parties were not disclosed.
Carlsbad Village, a 59,010-square-foot Smart & Final-anchored shopping center at Carlsbad Village Drive and the Interstate 5 in Carlsbad, CA was acquired by an affiliate of the investment firm. Lincoln Center, a 57,630-square-foot Gelsons Market-anchored shopping center at Lincoln and Ocean Park boulevards in Santa Monica was also acquired.
Balboa Partners’ Joseph Fahey notes both Lincoln Center and Carlsbad Village are viewed “as generational opportunities,” and the company anticipates the assets will continue to serve the evolving needs of both the Santa Monica and Carlsbad communities.
The deals were handled by Colliers’ Tom Lagos and Michael Asarch.
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