Capital Asset Management of Carlsbad has acquired a two-building retail center in San Diego’s Point Loma area for $15 million, according to CoStar Group and brokerage firm Marcus & Millichap.
The seller of Rosecrans Shopping Center, totaling 43,108 square feet at 3555 Rosecrans St., was recorded as Eden Plaza San Diego LLC, CoStar reported.
A statement from Marcus & Millichap, which did not disclose the seller, said the buyer plans to completely renovate and reposition the center to attract health and fitness lifestyle-oriented tenants.
The property was built in 1987 on 2.27 acres and is located near Valley View Casino Center, in Point Loma’s Sport Arena/ Midway neighborhood. Current tenants include Rubio’s, CorePower Yoga, UPS, Allstate Insurance and Verizon.
The buyer was represented by Marcus & Millichap’s Nick Totah and Ben Tashakorian, and the seller was represented by Marcus & Millichap’s Mark Thiel.