Sports Arena Retail Leased Investment Sold for $2,625,000

Thursday, November 13, 2014

Sports Arena Retail Leased Investment Sold for $2,625,000
8,138 SF Two-Tenant Retail Building Anchored by Sherwin-Williams

Sale Summary: ECP Commercial announced that Magus Development, LLC. has acquired a twotenant retail building, located at 3675-3681 Sports Arena Blvd, San Diego, CA 92110,from the Burke Family Trust, for a consideration of $2,625,000. The property is 100% leased to Sherwin-Williams, operating under their Frazee brand, and the San Diego Bay Animal Hospital.

Situated along Sports Arena Blvd, directly across from the Valley View Casino Center, in the “Midway District” of San Diego, the property offers long term leases with strong tenancy, located in the path of progress. The Buyers are long term holders, and completed the transaction to satisfy an upleg in a 1031 tax-deferred exchange.

ECP Commercial’s Pat Geary and Joe Bonin represented the Buyer, Magus Development, LLC, and the Seller, the Burke Family Trust. ECP AssetCare will continue to manage the property. Escrow services were handled by Robert Shaw, and Title services by Cameron Aldrich, both of Chicago Title Company.

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