Phil Voorhees, Reg Kobzi, Joel Wilson CBRE Bonita Centre, 4364-4450 Bonita Road, Bonita 98,854 square feet Total consideration: $30.55 million
About the property: Donahue Schriber Commercial Real Estate purchased Bonita Centre from Nottingham Associates Inc. for $30.55 million. Located at 4364-4450 Bonita Road in San Diego’s Bonita submarket, the 98,854-square-foot retail center is anchored by Vons and Rite-Aid. The project was 93 percent leased at time of sale.
Closing the deal: Encumbered by debt, the CBRE marketing team had to locate a buyer that could assume the full balance of the existing loan.
Bonita Centre is an older project, and Donahue Schriber Commercial Real Estate has a history of upgrading projects through extensive renovations. Donahue Schriber Commercial Real Estate plans to modernize the center, which will enhance the property’s value and elevate the community.