Capstone Advisors Acquires San Diego Retail Space for $12.7M

SAN DIEGO — Carlsbad, Calif.-based Capstone Advisors has acquired a retail center located at 10155-10195 Rancho Carmel Dr. in San Diego’s Carmel Mountain Ranch submarket. American Assets Trust sold the 30,421-square-foot property for $12.7 million.

Built in 1993, the property is 96 percent leased by tenants, including US Credit Union, Starbucks Coffee, and Oggi’s Pizza and Brewing. Capstone plans to enhance the property by upgrading tenant signage and developing the landscape.

Capstone Advisors was represented in-house, while Philip Voorhees of CB Richard Ellis represented American Assets Trust in the transaction.