Sorrento Plaza shopping center in Sorrento Valley has been sold for $9 million.
The buyer of the 11,901 square-foot shopping center was not disclosed.
The seller was Wells Fargo, as the successor trustee.
Wells Fargo was represented by Rick Puttkammer and Bill Rose of Institutional Property Advisors, a division of Marcus & Millilchap.
Representing the buyer was Sam Hanna, senior vice president of the National Net Lease Group of SRS Real Estate Partners.
Chad O’Connor of Marcus & Millichap Capital Corp. handled the financing
Built in 2007 at 9254 Scranton Road, the center was fully leased at the time of sale. Tenants include Subway, Rubio’s Coastal Grill, Opera Patisserie, Croutons and a dental clinic.
“Our client liked this asset as it offered internet-proof tenancy with a majority of tenants being in the dining category,” Hanna said. “With an abundance of professionals working in nearby companies, many of which are life science and biotech, Sorrento Plaza is poised to see long-term appreciation and rental growth.”
Real estate reporter Ray Huard may be reached at email@example.com or 858-277-8904.