Old Grove Marketplace

Highlights

• TROPHY ASSET A rare opportunity to acquire a premier, grocery-anchored retail center in the highly sought-after and supply-constrained San Diego market. Beautifully maintained shopping center kept up to date with the latest ESG initiatives.
• AFFULENT TRADE AREA Positioned within a prosperous community of approximately 115,648 residents within a three-mile radius with an average household income of $126,929 and an average home value of $786,624, underscoring the strong local spending power.
• PRIME VISIBILITY Ideally positioned at the high-traffic, signalized intersection of Highway 76 and Old Grove Rd, with 56,000 vehicles passing daily.
• STRONG LEASING MOMENTUM New leases signed or extended in the past 24 months include US Bank, H&R Block, Jersey Mikes, AT&T, Prestige Nails, Oceanside Dentistry, Club Pilates, and Dalu Hawaiian BBQ, demonstrating high demand and leasing velocity.
• HIGH-QUALITY SHADOW ANCHORS Shadow anchored by a strong performing Lowes Home Improvement store ranked top 12% in the nation, along with positioned McDonalds and Shell service station tenants.
• GROCERY-ANCHORED INVESTMENT Anchored by a strong performing 52K SF Ralphs (Ground Lease) that has been in place since 2005 and is only paying $8.51 PSF/Year in rent. Ralphs is the largest subsidiary of Kroger and the current market share leader in California, with 189 locations in the US and over 6 billion USD in revenue.
• THRIVING ECONOMIC BASE Located in Oceanside, a vibrant economic hub featuring Marine Corps Base Camp Pendleton (42,000 active-duty personnel), Tri-City Medical Center (1,831 employees), and MiraCosta College (1,269 staff and 10,500 students), and the Oceanside Business Park (6M SF and over 6,000 Employees).
• STABLE & GROWING CASH FLOW Currently 100% leased, the property benefits from fixed rental escalations and below market in-place rents, delivering a 2.75% Compound Annual Growth Rate (CAGR).
• BREAK-UP POTENTIAL With the anchor, strip, and pad sites on separate parcels, this property offers future break-up value.
• CREDIT TENANT MIX Strong security of income with 71.48% of the income backed by national corporate tenants including Ralphs, Starbucks, US Bank, Jersey Mikes, and AT&T

Location

Getting Around

• Walk Score ®

  56/100 Somewhat Walkable

• Transit Score ®

  29/100 Some Transit

• Bike Score ®

  21/100 Somewhat Bikeable

Points of Interest