La Mesa Village Station

Highlights:

• LOCATION: La Mesa Village Station is extremely well positioned on the north end of La Mesa within close proximity to the I-8 and I-125 freeways as well as the Grossmont Hospital and Grossmont Center Mall, and just steps from the San Diego MTS Orange Trolley line!
• STABLE TENANT MIX: The retail center, which is 100% occupied, is anchored by Mt. Helix Academy, a well-established private school that teaches kids from Kindergarten to Ninth Grade, and complements the Property, ultimately drawing increased traffic to the additional tenants, without impacting the parking. Mount Helix has the highest accreditation for WASC, with nearly 20 years onsite and over 200 students enrolled.
• LONG TERM HISTORICAL OCCUPANCY: The Property has seen loyalty from its tenants, where almost 75% of the occupied square footage have been at the property for almost 20 years. Majority of the tenancy is “captive” with low risk of roll over due to high moving expenses or licensing.

Description:

Commercial Asset Advisors is pleased to present the opportunity to acquire fee simple interest in the La Mesa Village Station (the “Property”). A well-located, freeway adjacent multi-tenant retail center in San Diego’s La Mesa submarket. This well-designed, retail opportunity has the ability to support and attract tenants of all types.

The project encompasses approximately 57,593 rentable square feet and benefits from its ample parking and high traffic location within walking distance of a MTS Trolley stop. La Mesa Village Station is extremely well positioned on the north end of La Mesa, providing quick access to the I-8 and I-125 freeways. This high visibility location next to prominent national tenants drives significant traffic to established regional tenants.

La Mesa Village Station is currently 100% leased to a high-quality and diverse tenancy of established regional and “mom and pop“ retail, educational, medical and restaurant. With an established sub-market that continues to add dense residential projects within minutes from the Property, an investor has ample opportunity to attract new tenants and increase rents further creating long term value. Accelerating market dynamics together with the Property’s valuable location and stable tenant mix, create an opportunity for retail value add, medical conversion or residential redevelopment.

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