Totah Group Makes Its Second Escondido Retail Sale This Year

Totah Group Makes Its Second Escondido Retail Sale This Year

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Marcus & Millichap arranged the sale of Citrus Strip Center, a 27,310-square-foot retail property located at 2315-41 East Valley Pkwy. in Escondido. The asset sold for $6,200,000.

“Our seller was a Colorado-based investor looking to move their capital out of state on their last California property,” said Nick Totah, SVP with the Totah Group of Marcus & Millichap. “The strip center was on the market for one month with three offers received.”

Totah marketed the property on behalf of the seller, Cavalier Investments, LLC. The buyer, Eiad and Vera H Family Trust, was also procured by Totah, in the Totah Group’s second Escondido shopping center sale this year.

“The buyer is growing their retail portfolio and plans to lease up the entire property and stabilize the asset,” Totah added.

Citrus Strip Center is shadow anchored by Vons, US Bank, Shell, and Dutch Bros Coffee. The property is comprised of 16 retail suites and two kiosks hosting a mix of tenants including restaurants, professional services, beauty, fitness and a laundromat.

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