OCEANSIDE, CALIF. — ROIC has completed the disposition of Marketplace del Rio, a neighborhood shopping center in Oceanside, approximately midway between Los Angeles and San Diego. A Southern California-based high-net-worth investor acquired the asset for $56.6 million.
Situated on more than 20 acres at 3762-3774 Mission Ave., the 183,292-square-foot center is anchored by Stater Bros. Market, which recently signed a long-term lease extension and expansion. The buyer hired 1st Commercial Management Group – San Diego Inc., a subsidiary of West Coast Retail Management, headed by Roberta Degener, to provide management services.
Phil Lyons and Chad Iafrate of Cushman & Wakefield represented the buyer, while Jimmy Slusher, James Tyrell and Preston Fetrow of CBRE represented the seller in the deal.