OCEANSIDE, CALIF. — PRDO Retail Investors LP (A&C Properties, a private investment firm based in Phoenix, Ariz.) has completed the disposition of Plaza Rancho Del Oro, a neighborhood shopping center in Oceanside, to Lotfi and Flora Mehdian for $34.3 million.
Located at 4120-4196 Oceanside Blvd., Plaza Rancho Del Oro features 65,054 square feet of retail, restaurant and service-retail space. Built in 1989, the property consists of eight buildings and more than 400 parking spaces. At the time of sale, the property was 92 percent occupied by a variety of tenants, including Starbucks Coffee, My Salon Suites, Upper Crust Pizza, Wells Fargo and Carl’s Jr. Currently, the property consists of 29 local and national retailers.
Jimmy Slusher, Philip Voorhees, James Tyrrell, Megan Lanni, Reg Kobzi, Joel Wilson, Michael Peterson and Lane Robertson of CBRE’s National Retail Partners represented the seller in the deal.