CBRE Arranges $14.95 Million Sale of West Elm-Anchored Retail Center in Solana Beach

CBRE has completed the sale of 212 South Cedros, a premier 16,702-square-foot specialty retail center in Solana Beach, Calif., for $14.95 million.

CBRE’s Reg Kobzi, Joel Wilson, Michael Peterson, Dave Hagglund and Robert Gunness represented the seller, Brixton Capital, a local private real estate investment firm, in the transaction. The buyer is a private real estate investment group committed to maintaining and enhancing the property's reputation as a premier destination in the Cedros Avenue Design District.

"This is a 'one of a kind' coastal San Diego retail asset and true pride of ownership property," said Kobzi, senior vice president at CBRE. "Brixton did an outstanding job remodeling the property and upgrading the tenant mix with the addition of West Elm. The new ownership intends to continue investing in the property to attract high-quality tenants and further elevate its standing in the vibrant Cedros District."

Situated on 0.92 acres at 142-212 South Cedros Avenue, the two-building center is fully leased but anticipates select opportunities for premium tenants as leases evolve. This creates an exciting moment for businesses looking to join the dynamic Cedros District.

212 South Cedros is located within the Cedros Avenue Design District, home to 85 boutiques, salons, art galleries, specialty home goods stores, coffee shops, fitness studios and more. The center is directly across the street from Belly Up Tavern concert venue, a three-minute walk to the Solana Beach Amtrack station and several blocks from the ocean. The area within a five-mile radius is home to over 113,583 residents with an average household income exceeding $226,980.

This is the 14th San Diego asset sold by Kobzi, Wilson and Peterson this year, totaling over $161.9 million.