Updated Jul 25, 2025
Bill Huffman Of Nuveen Acquires Five Grocery-Anchored Retail Centers From Daniel J. Busch For $306M
101 175 Old Grove Road, 79070 California Highway 111, 24235 Magic Mountain Parkway, 36100 Hidden Springs Road & 300 South Twin Oaks Valley Road
$306,000,000
$82/SF
Building Size
746,464 SF
Asset Type
Retail
Closing
Jul 22, 2025
About this deal
AI
Nuveen Real Estate acquired five grocery-anchored retail centers located at 101-175 Old Grove Road, 79070 California Highway 111, 24235 Magic Mountain Parkway, 36100 Hidden Springs Road, and 300-305 South Twin Oaks Valley Road for a total of $306,000,000. The properties encompass a combined square footage of 746,464 and boast an occupancy rate of 99.26%. The transaction took place within the markets of Oceanside, La Quinta, Santa Clarita, Wildomar, and San Marcos.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $306,000,000
- Square Footage: 746,464
- Price per Square Foot: $410
- Buyer: Bill Huffman - Nuveen
- Seller: Daniel J. (DJ) Busch - InvenTrust Properties Corp.
- Management Company: Vestar
- Occupancy Rate: 99.26%
- InvenTrust's Plan: Exit the state to focus on Sunbelt markets
Bill Huffman represented Nuveen in the acquisition of the retail centers, while Daniel J. (DJ) Busch represented InvenTrust Properties Corp. in the sale. The transaction marks a significant strategic shift for InvenTrust as they refocus their investment strategy towards Sunbelt markets.
On the Map
$306,000,000
$82/SF
Retail
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Players
Oceanside Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93