Rob Ippolito and John Jennings, of Cushman & Wakefield represented the buyer in the Deal of the Week.
The deal was the sale of the 70,898-square-foot Escondido Town & Country neighborhood retail center at 1625-1665 E. Valley Parkway, Escondido, for $10,525,000.
The buyer was G.F.C. Glendale Associates LLC, of Commerce, Calif. 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 was Town & Country Partners LLC. Bill Barnett and Doug Hogan of Colliers International represented the seller.
The manager of Town & Country is PDP-WAMU Partners LLC. The managers of PDP-WAMU are Mark T. Burger and Ronald A. Recht.
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.
4660 La Jolla Village Dr. Ste., 100
San Diego, CA 92122
Reporter Carlos Rico speaks with the brokers from one of The Daily Transcript's top land transactions of 2013. The property in Rancho Santa Fe, which sold for $10.25 million, is 41 subdivided lots where custom homes will be built.
View more at TheRealDeal.sddt.com