An Escondido shopping center has been sold.
Paragon Commercial Group, LLC and Canyon Partners Real Estate sold Escondido Valley Center, 1346-1358 Valley Center Parkway, to an undisclosed family trust based in Orange County.
Neither the buyer nor the seller revealed the purchase price, but it was reported as $24.9 million by CoStar, a real estate listing firm.
The seller was represented by Ed Hanley, president of Hanley Investment Group Real Estate Advisors, and Hanley Investment executive vice presidents Bill Asher and Kevin Fryman.
The buyer was represented by Ken McLeod and Zachary Card of CBRE in Los Angeles.
Built in 1988 and renovated in 2017, center tenants include ALDI grocery store, HomeGoods, Staples, and BevMo.
“The overall strength of this location was demonstrated in 2018 when Toys R Us vacated within the immediate trade area and was quickly backfilled,” Hanley said. “It’s still a seller’s market for neighborhood centers situated in prime locations in Los Angeles, Orange and San Diego counties.”
