TRAFALGAR SQUARE

ESCONDIDO, CA

$7,250,000

 

Escondido - Trafalgar Square

AT A GLANCE

  • Rare grocery anchored value-added opportunity in San Diego County.

  • Regional grocery anchored shopping center with national tenants, ALDI (corporate ground lease).

  • Separately parceled, potential break-up scenarios.

CHALLENGES

  • Former contamination and legal issues with tenant in the shop space created long-term vacancy within the shops.

  • Buyer changed equity/debt partners during escrow and still closed at contract price.

  • Delays with parcelization of the center created challenges with the buyer toward executing their business plan.

MARKETING STRATEGY

  • Provided business plan in marketing material to show buyers the path creating value in the property.

  • Hand selected a new local market leasing team to bring new energy.

  • Aggressive email and follow-up call campaign to locate value-add buyers.

RESULTS

  • Received multiple offers, selected a buyer with strong history of closing.

  • During escrow, found a buyer for the IHOP within the center.

  • Worked hand-in-hand with buyer and seller to navigate the new debt / equity partner.