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Friday, Jul 19, 2024
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Santee Retail Property Sells for $27.5 Million

Union City Investments LLC of Santa Monica has acquired the four-building Santee Town Center retail property for approximately $27.5 million, according to CoStar Group and public data.

The seller of the property, spanning 104,128 square feet at 214, 230-240, 262-278 and 294 Town Center Pkwy in Santee, was an affiliate of Irvine-based Pacific Castle Inc. The property was fully occupied at the time of sale by 15 tenants, including Dollar Tree, Michaels, Office Depot and Scripps Clinic.

The buyer was represented by David Boras of Pacific Coast Warehouse Co., and the seller was represented by Ramez Barsoum and Aaron Bettencourt of Reza Investment Group Inc.

The buildings were constructed on 11.7 acres in 1994, 1997 and 2000.

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