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Escondido neighborhood retail center sold

The 70,898-square-foot Escondido Town & County neighborhood retail center at 1625-1665 E. Valley Parkway, Escondido 92027, has been sold for $10,525,000.

The buyer was G.F.C. Glendale Associates LLC, 3325 S. Garfield Ave., Commerce, CA 90040. Frank Kee-Suo Chen is the managing member of G.F.C. Glendale.

The new ownership plans to own and operate the property as it expands its Southern California portfolio.

The seller of the property (231-060-62) was Town & Country Partners LLC. The manager of Town & Country is PDP-WAMU Partners LLC. The managers of PDP-WAMU are Mark T. Burger and Ronald A. Recht.

Rob Ippolito and John Jennings, of Cushman & Wakefield represented the buyer.

The center was built in 1973 on a 6.23-acre corner lot at Rose Street.

Tenants at the center include Big Lots (25,000 square feet), CVS Pharmacy (24,300 square feet) and Navy Federal Credit Union (5,289 square feet). The property will be managed by Kerrie Ozarski, of Reef Real Estate Services.

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