CEG Capital Partners Acquires 53,294 SF Retail Center In San Diego For $23 Million
5487 Clairemont Mesa Boulevard
$23,000,000
$431/SF
Building Size
53,294 SF
Asset Type
Retail
Closing
Oct 22, 2025
AI
The retail asset involved in the transaction is located at 5487-5597 Clairemont Mesa Boulevard in San Diego. CEG Capital Partners acquired the property from The Shops at Madison Place LLC for $23 million. The asset spans 53,294 square feet and was approximately 93% leased at the time of sale, translating to a price per square foot of $432.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $23,000,000
- Address: 5487-5597 Clairemont Mesa Boulevard
- Market: San Diego
- Square Footage: 53,294
- Price Per Square Foot: $432
- Buyer: CEG Capital Partners
- Seller: The Shops at Madison Place LLC
- Brokers: Reg Kobzi, Rachel Parsons & Michael Peterson - CBRE
CBRE's brokers Reg Kobzi, Rachel Parsons, and Michael Peterson represented the seller in this transaction, facilitating the sale process for The Shops at Madison Place LLC.
Players
San Diego 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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93