These Were 2016’s Biggest Retail Property Deals

With new construction scarce and empty store spaces quickly being filled, San Diego County’s retail property vacancy rate keeps getting lower – 3.8 percent at the end of 2016, according to a recent report by CoStar Group. That was a drop from an already tight 4.6 percent in the year’s first quarter.

San Diego retains one of the smallest retail vacancy rates among major U.S. metro markets. These were among the past year’s biggest retail property purchase and lease deals in San Diego County.

Property Purchases:

1. Mira Mesa Marketplace, San Diego — $229 million (Buyer: Stockbridge Capital Group LLC; Seller: DSB Properties Inc.)

2. Shoppes at Carlsbad (formerly Westfield Carlsbad) — $170 million (Buyer: Rouse Properties; Seller: Westfield Corp.)

3. Marketplace at Windingwalk, Chula Vista — $51 million (Buyer: Zurich Alternative Asset Management LLC; Seller: Shea Properties Management Co. Inc.)

4. New Nordstrom building, Westfield UTC, San Diego — $30 million (Buyer: Nordstrom Inc.; Seller: Westfield Corp.)

5. 214-294 Town Center Pkwy., Santee — $27.5 million (Buyer: Union City Investments LLC; Seller: Pacific Castle Inc.)

Property Leasings:

1. Vons, Torrey Highlands – 50,511 square feet (former Albertsons, Haggen)

2. Eastlake Speed Circuit Kart Racing, Chula Vista – 45,794 square feet

3. Empathy Charter School, Escondido – 44,555 square feet

4. Ross Dress for Less, Chula Vista – 42,417 square feet (former PetSmart)

5. Dick’s Sporting Goods, Carmel Mountain Ranch – 40,672 square feet (former Sports Authority)