Marcus & Millichap Sells Tierrasanta Retail Center To Local Investor In San Diego

Tierrasanta Gateway Shopping Center, located at 5910 Santo Rd, San Diego, CA, 92124, recently sold for $15,500,000. The property spans 42,192 square feet and consists of four buildings on approximately 3.7 acres. The asset features a mix of 25 Internet-resistant retail tenants including the United States Postal Service, Dairy Queen, and Alans Market. Built in 1992, the center is situated on the corner of Santo Road, backing up to Highway 52 near the I-15 and 163 freeway connectors.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $15,500,000.00
• Buyer: Local Investor
• Buyer's Representative: Nicholas Totah & Ross Sanchez - Marcus & Millichap
• Seller: TGSC LLC
• Built: 1992
• Size: 42,192 square feet

The transaction marks the portfolio's first sale in nearly 20 years. Nicholas Totah and Ross Sanchez, representing the buyer, emphasized the opportunity within a low vacancy market and noted the asset's high barriers to entry and exceptional management. The seller, TGSC LLC, was self-represented in the deal.