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5821 5975 University Avenue

Landlord Mark Moshayedi Space Investment Partners PCCP Recapitalizes University Square San Diego For $70M
FINANCEDRetail

Landlord Mark Moshayedi Space Investment Partners PCCP Recapitalizes University Square San Diego For $70M

5821 5975 University Avenue

$70,000,000

$351/SF

Building Size

199,115 SF

Asset Type

Retail

Closing

Jul 28, 2025

AI

University Square is a grocery-anchored retail center in San Diego, totaling 199,115 SF of retail space on 20 acres, located at 5821-5975 University Avenue. The asset's financing comprises a recapitalization with a loan amount of $70,000,000. The property is 98.5% leased to tenants including Food4Less, Marshalls, Crunch Fitness, and Dollar Tree.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: $70,000,000
  • Asset Type: Retail
  • Address: 5821-5975 University Avenue
  • Market: San Diego
  • Size: 199,115 SF
  • Acres: 20
  • Landlord/Rep: Mark Moshayedi - Space Investment Partners, PCCP
  • Loan Type: Recapitalization
  • Date: 07/28/2025
  • Tenant mix: Food4Less, Marshalls, Crunch Fitness, Dollar Tree

This paragraph highlights the deal’s key participants: Mark Moshayedi, associated with Space Investment Partners, and PCCP, who were involved in the recapitalization of University Square, a grocery-anchored retail center in San Diego.

Players

Mark Moshayedi

Space Investment Partners

Landlord
Landlord
PL
PCCP, LLCLandlord

San Diego Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.23%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93