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Metroplex Retail Center Sells for $44.3M

One of the largest retail complexes on Miramar Road sold for $44.3 million in a deal announced March 2.

The Metroplex Retail Center at 7340 and 7480 Miramar Road, a two-building complex comprising 210,926 square feet of retail space, was purchased by Metroplex Shopping Center 05A, L.P. The seller was PARS Sorrento Valley Science Park III, L.P.

The complex is 94 percent leased and houses 10 tenants, including Home Office Plus, Rattan Leather, Greene Music, Metro Flooring and Treasures.

The two-story building at 7340 Miramar Road is 113,182 square feet and sits on approximately 4.55 acres. The two-story building at 7480 Miramar Road is 97,744 square feet and sits on 4.37 acres. Both structures are concrete tilt-up construction and were built in 1992.

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San Diego-based Grubb & Ellis/BRE Commercial represented both the buyer and the seller.

The complex sits in a five-mile stretch of Miramar Road between Interstate 805 and Interstate 15, which is home to more than 100 home improvement retailers.

Heather Bergman

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