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Grocery-Anchored Mid-City Center Recapitalized for $70M
A joint venture of Space Investment Partners and PCCP announced the $70-million recapitalization of University Square. The 199,115-square-foot grocery-anchored retail center, situated on 20 acres, is located at 5821-5975 University Ave. in San Diego. Space Investment Partners acquired it in 2021.
Located less than two miles from San Diego State University, the high-visibility retail destination serves a diverse customer base. Notable tenants for the 98.5% occupied center include Food4Less, Marshalls, Crunch Fitness and Dollar Tree, among others. The property is among the highest-trafficked centers in San Diego and one of the major retail centers in Mid-City.
“University Square has been a solid performing property,” said Space Investment Partners co-founder and managing partner Ryan Gallagher. “Our plan is to further enhance the property and upgrade the tenancy. We will use the proceeds to continue our focus on acquiring additional retail properties in the Southwest.”
- ◦Sale/Acquisition
- ◦Financing




