Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
New call-to-action
California  + San Diego  + Retail  | 

Marcus & Millichap Handles $15M Point Loma Retail Deal

Carlsbad, CA-based Capital Asset Management acquired Rosecrans Shopping Center, a 43,108-square-foot retail center in San Diego’s Point Loma for $15 million. Marcus & Millichap’s Mark Thiel handled the sale on behalf of an unnamed private investor seller, while the firm’s Nick Totah and Ben Tashakorian procured the buyer.

Totah says, “The new owners will benefit from the asset’s strategic location, less than a mile away from Valley View Casino center and next to numerous national retailers.” Additionally, he notes there is an opportunity to “unlock significant value by bringing rents up to the market rate and through strategic leasing and management modifications.”

The center was constructed in 1987, and sits on 2.27 acres at 3555 Rosecrans St. The new owner plans to completely renovate and reposition the center to appeal to health and fitness lifestyle oriented tenants. Current retailers include Rubio’s, CorePower Yoga, UPS, Allstate Insurance and Verizon.

Subscribe to Connect Daily California

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Read more at Marcus & MillichapConnect With Capital Asset ManagementConnect With Marcus & Millichap’s Totah

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
New call-to-action
New call-to-action
New call-to-action
New call-to-action
New call-to-action