CBRE sells Plaza Rancho Del Oro in Oceanside for $34.3 million

CBRE has successfully completed the sale of a 65,054-square-foot regional shopping center in Oceanside, California, known as Plaza Rancho Del Oro, for $34.3 million. The property is strategically shadow-anchored by major retailers Albertsons and Planet Fitness, contributing to its appeal. The sale was facilitated by CBRE’s National Retail Partners-West team, which has recently closed three grocery-anchored shopping centers in Southern California, totaling over $137 million in sales within a two-month period. The Plaza Rancho Del Oro is currently 92% leased, featuring a diverse mix of tenants, including Starbucks, Wells Fargo, and local restaurants. The presence of national shadow anchors and below-market rents enhances the property’s attractiveness to investors. The competitive bidding process for the center saw nearly 10 bids, reflecting strong investor demand for high-performing grocery-anchored centers, particularly in coastal areas like Oceanside. The transaction was led by CBRE professionals Jimmy Slusher, James Tyrrell, and Megan Lanni, who represented the seller, A&C Properties, a private investment firm focused on grocery-anchored shopping centers in the Southwest. The team was supported by leasing experts from CBRE San Diego, emphasizing the collaborative approach that enhances their advisory capabilities in retail investment. Investor interest was driven by favorable market conditions, including attractive assumable debt terms and the potential for future rent increases. This sale further solidifies CBRE’s leading position in the Southern California retail capital markets, showcasing the ongoing demand for established neighborhood shopping centers.