TRAFALGAR SQUARE
ESCONDIDO, CA
$7,250,000
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.