Built in 1961, Grossmont Centre is a 1 million square foot open air regional mall located in eastern San Diego County. Due to increased competition from two newly renovated regional malls, the mall suffered a major drop in sales revenue.  In 1997, CB Richard Ellis was retained to provide strategic retail services.

From the onset, CB Richard Ellis' focus was to design and implement an asset re-positioning plan for the mall that included lifestyle tenants and expanded entertainment uses.  Already anchored by Macy's, Wards, Target, Oshmans and Pacific Theaters, the new leasing strategy secured a number of tenant expansions and remodels including the new Pacific Theatres stadium seating venue.  Pacific Theatres built the single largest auditorium in San Diego County at Grossmont and the box office was relocated to the interior of the mall.  A number of new retailers were also added including Bath & Body Works, Primo Day Spa, Busy Body Fitness, Foot Action, Panda Express and a number of regional specialty retailers.

In addition to the re-leasing of Grossmont Center, CB Richard Ellis convinced Macy's and Wards, without landlord cost, to remodel their stores.  CB Richard Ellis re-structured Grossmont Center's expenses and debt, delivering over $1 million annually in increased cash flow for the partnership versus 1996 actuals.

The property, 99% leased, enjoyed a 10% sales increase over the prior year and cash flow to the partnership increased by approximately $1.8 million in 1999 versus 1996.